To amend the Small Business Act to exempt the Small Business Administration and financial and lending institutions from liability under certain Federal environmental laws with respect to property when title or control of the property is acquired by the Administration or the financial or lending institution under the terms of a business or disaster loan.
Innocent Lender Liability Relief Act of 1990 - Amends the Small Business Act to exempt from liability under certain environmental laws the Small Business Administration (and any financial institution participating with it) with respect to: (1) pollution control facilities acquired as a result of loan defaults; and or (2) property acquired as a result of disaster loan defaults.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
Referred to the House Committee on Energy and Commerce.
Referred to the Subcommittee on Transportation and Hazardous Materials.
Referred to the Subcommittee on SBA, the General Economy, and Minority Enterprise Development.
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