To amend the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 and the Solid Waste Disposal Act to limit the liability under those Acts of lenders and fiduciaries.

Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to exclude from the definition of "owner or operator," for purposes of determining liability under such Act: (1) a person whose interest in a vessel or facility arises in connection with a secured financing arrangement or who acquires such interest as a result of foreclosing upon such vessel or facility; (2) a fiduciary; (3) a trustee, pursuant to an indenture agreement or similar financing agreement, for debt securities, certificates of interest, or participation in debt securities; or (4) any successor to such a fiduciary or trustee who acquires an interest in a vessel or facility for purposes of administering an estate or trust. Makes such persons liable if they knowingly or recklessly cause or exacerbate a release of a hazardous substance.

Excludes such individuals from the definitions of "owner," "operator," "generator," and "transporter" under the Solid Waste Disposal Act.