To set aside a portion of the funds available under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to be used encourage the redevelopment of marginal brownfield sites, and for other purposes.

Makes available to the Administrator of the Environmental Protection Agency a specified fraction of amounts in the Hazardous Substance Superfund for each fiscal year for a program of grants to States to be used for decontamination and remediation of brownfield sites to make such sites available for proposed new uses. Defines a "brownfield site" as a parcel of land that was previously used for industrial purposes but is contaminated with hazardous or toxic waste and not currently used for any purpose.

Prohibits, with respect to a site at which decontamination or remediation is being carried out under an approved State brownfield cleanup program, any action for: (1) decontamination or remediation under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) or the Solid Waste Disposal Act; and (2) recovery of costs or damages arising from a hazardous substance release or threatened release under CERCLA against a person who is engaging or has engaged in the cleanup of such a site under a State program approved under this Act.

Imposes reporting requirements upon participating States.