Innocent Landowner Defense Amendment of 1993

Innocent Landowner Defense Amendment of 1993 - Amends the Comprehensive Environmental Response, Compensation, and Liability Act to create a rebuttable presumption that a defendant who has acquired real property has made all appropriate inquiry into previous ownership and uses of the property if he establishes that, immediately prior to or at the time of acquisition, he obtained a Phase I Environmental Audit (i.e., an investigation of the property, conducted by environmental professionals, to determine the obviousness of the presence or likely presence of a release or threatened release of hazardous substances including a review of specified records of the previous ownership and use of such property).

Specifies that no such presumption shall arise: (1) unless the defendant has maintained a compilation of the information reviewed in the course of the Audit; and (2) if the Audit discloses the presence or likely presence of a release or threatened release of hazardous substances on the property to be acquired, unless the defendant has taken reasonable steps to confirm the absence of such release or threatened release.