Brownfields and Environmental Cleanup Act of 1997

TABLE OF CONTENTS:

Title I: Brownfield Remediation and Environmental Cleanup

Title II: Prospective Purchasers

Title III: Innocent Landowners

Brownfields and Environmental Cleanup Act of 1997 - Title I: Brownfield Remediation and Environmental Cleanup - Directs the Administrator of the Environmental Protection Agency to establish a program to provide grants to States or local governments to inventory brownfield sites and conduct site assessments of brownfield sites. Defines a "brownfield site," with exceptions, as a facility that has or is suspected of having environmental contamination that: (1) could prevent the timely use, development, reuse, or redevelopment of the facility; and (2) is relatively limited in scope or severity and can be comprehensively characterized and readily analyzed.

(Sec. 103) Directs the Administrator to establish a program to provide grants to State and local governments for capitalization of loan programs for brownfield site cleanup by either the State or locality or by an owner or prospective purchaser.

(Sec. 104) Makes amounts in the Hazardous Substance Superfund (the Fund) available to carry out the grant programs of this Act. Authorizes appropriations from the Fund.

(Sec. 105) Requires reports to the Congress regarding the site assessment and loan capitalization programs.

(Sec. 106) Imposes funding limitations, including a restriction on use of funds to meet Federal cost-sharing requirements and a prohibition on the use of grants to pay fines or penalties.

(Sec. 109) Authorizes appropriations to carry out the site assessment and loan capitalization programs.

Title II: Prospective Purchasers - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) to absolve from liability for response actions bona fide prospective purchasers to the extent liability at a facility for a release or threat thereof is based solely on ownership or operation of a facility. Gives a lien upon a facility to the United States for unrecovered response costs in any case in which there are such unrecovered costs for which the owner is not liable by reason of this Act and the facility's fair market value has increased above that which existed 180 days before the action was taken.

Title III: Innocent Landowners - Amends CERCLA, with respect to defenses to liability of an owner of after-acquired property, to deem a person to have made (under current law, "undertaken") appropriate inquiry into the property's previous ownership and uses if the person establishes that an environmental site assessment was conducted which meets specified requirements (compliance with an American Society for Testing and Materials standard or with standards issued by the President) and the person fulfills certain responsibilities concerning information compilation, exercise of appropriate care with respect to hazardous substances at the facility, and cooperation with those conducting response actions. Deems the appropriate inquiry requirements to be satisfied by a site inspection and title search that reveal no basis for further investigation in the case of property for residential or similar use purchased by a nongovernmental or noncommercial entity.