HOUSE AMENDED PRIOR PRINTER'S NOS. 12, 677 PRINTER'S NO. 1017
No. 11 Session of 1995
INTRODUCED BY STEWART, BRIGHTBILL, PORTERFIELD, SHAFFER, LAVALLE, MUSTO, BELAN, JUBELIRER, SALVATORE, MELLOW, LOEPER, FUMO, ANDREZESKI, BELL, TARTAGLIONE, BODACK, PUNT, MOWERY, KASUNIC, RHOADES, HELFRICK, STOUT, SCHWARTZ, WENGER, GREENLEAF, HECKLER, LEMMOND, MADIGAN, PETERSON, ROBBINS, SHUMAKER, O'PAKE, WAGNER, STAPLETON, JONES, CORMAN, DAWIDA, DELP, HART, ULIANA, GERLACH AND BAKER, JANUARY 17, 1995
AS REPORTED FROM COMMITTEE ON ENVIRONMENTAL RESOURCES AND ENERGY, HOUSE OF REPRESENTATIVES, AS AMENDED, APRIL 26, 1995
AN ACT 1 Limiting environmental liability for economic development 2 agencies, financiers and fiduciaries. 3 The General Assembly of the Commonwealth of Pennsylvania 4 hereby enacts as follows: 5 Section 1. Short title. 6 This act shall be known and may be cited as the Economic 7 Development Agency, FIDUCIARY and Lender Environmental Liability <-- 8 Protection Act. 9 Section 2. Declaration of policy. 10 The General Assembly finds and declares as follows: 11 (1) The Commonwealth has provided grant and loan funds 12 to a variety of economic development agencies, all for the 13 purpose of assisting these agencies in their efforts to 14 promote the general welfare of this Commonwealth by
1 encouraging economic development and industrial redevelopment 2 throughout this Commonwealth. 3 (2) Economic development agencies acquire title to 4 industrial property for financing purposes only and lease or 5 sell the same to industrial occupants who have sole 6 possession of the facilities for an amount of rent or 7 installment payments pursuant to an installment sale contract 8 which is determined solely on a basis of meeting the costs of 9 the financing and other costs associated with ownership 10 unrelated to profit. 11 (3) Economic development agencies acquire possession of 12 these industrial sites from time to time when the industrial 13 occupant defaults under its obligations to the agencies under 14 its lease or installment sales agreements. 15 (4) Economic development agencies also acquire 16 industrial property either for the purpose of financing or 17 redevelopment but without a motive for profit or to occupy 18 the property for their own industrial operations. 19 (5) Economic development agencies are reluctant to 20 acquire title to or other interests in property whether for 21 financing or redevelopment purposes or to secure repayment of 22 obligations unless the economic development agencies are 23 protected from liability for environmental contamination on 24 those sites they seek to assist to develop. 25 (6) The taking of legal title and any foreclosure or 26 retaking of possession of property by an industrial 27 development agency, area loan organization or industrial and 28 commercial development authority is pursuant to the following 29 acts: 30 (i) The act of May 17, 1956 (1955 P.L.1609, No.537), 19950S0011B1017 - 2 -
1 known as the Pennsylvania Industrial Development 2 Authority Act, which expressly requires that the 3 Pennsylvania Industrial Development Authority loan money 4 to industrial development agencies secured by not less 5 than a second mortgage lien. 6 (ii) The act of August 23, 1967 (P.L.251, No.102), 7 known as the Economic Development Financing Law, which 8 provides for issuance of debt by industrial and 9 commercial development authorities and authorizes these 10 authorities to take title to real property as security 11 for the indebtedness. 12 (iii) The act of July 2, 1984 (P.L.545, No.109), 13 known as the Capital Loan Fund Act, which requires that 14 its loans be made to area loan organizations with 15 adequate collateral. 16 (7) The maximum level of economic development and 17 business opportunity and employment and the elimination or 18 prevention of abandoned industrial and commercial property 19 and Federal Government or military lands which can best be 20 provided by the promotion, attraction, stimulation, 21 rehabilitation and revitalization of all types of industry, 22 commerce, manufacturing and business development within this 23 Commonwealth. 24 (8) To continue and further the stimulation of business 25 opportunities and economic development within this 26 Commonwealth and thereby cause the reuse and rehabilitation 27 of industrial and commercial property, it is necessary to 28 ensure various means of financing to promote economic growth 29 and the availability of fiduciary services to persons within 30 this Commonwealth. 19950S0011B1017 - 3 -
1 (9) Lenders are reluctant to provide funding for 2 business opportunities and economic development, and 3 fiduciaries are reluctant to provide services to persons with 4 environmental problems, because of catastrophic risks of 5 environmental liability and remediation costs under 6 environmental laws relating to releases and contamination 7 which were not caused by lenders and fiduciaries. 8 (10) When borrowers default on loans, lenders are 9 reluctant to foreclose upon commercial property with 10 environmental problems because lenders may be forced to 11 assume costly environmental liabilities; thus, commercial 12 property is being abandoned in this Commonwealth and new 13 businesses are unable to obtain financing to purchase such 14 properties. 15 (11) Family businesses are unable to establish trusts to 16 convey their business interests to the next generation and 17 other businesses are unable to receive retirement, investment 18 and other trust services from fiduciaries, when fiduciaries, 19 in their personal or individual capacities, may be held 20 liable for environmental contamination caused by other 21 persons merely by virtue of owning property in their trustee 22 capacities and providing fiduciary services. 23 (12) In order to continue to stimulate growth and 24 continue the use or reuse of industrial and commercial 25 property, it is necessary to provide protection, to lenders, 26 fiduciaries and economic development agencies, from 27 environmental liability and remediation costs under 28 environmental laws for releases and contamination caused by 29 others. 30 (13) Environmental liability for lenders, fiduciaries 19950S0011B1017 - 4 -
1 and economic development agencies shall be limited in scope 2 as specifically provided in this act, and this act shall be 3 interpreted as broadly as possible in order to preempt any 4 laws, regulations or ordinances imposing environmental 5 liability on such persons in order to promote economic 6 development. 7 Section 3. Definitions. 8 The following words and phrases when used in this act shall 9 have the meanings given to them in this section unless the 10 context clearly indicates otherwise: 11 "Board." The Environmental Hearing Board of the 12 Commonwealth. 13 "Borrower." A person who has received an extension of 14 credit. The term includes, but is not limited to, a debtor, a 15 lessor, a lessee or an obligor. 16 "Conservancy." A charitable corporation, charitable 17 association or charitable trust registered with the Bureau of 18 Charitable Organizations and exempt from taxation pursuant to 19 section 501(c)(3) of the Internal Revenue Code of 1986 (Public 20 Law 99-514, 26 U.S.C. § 501(c)(3)) or other Federal or 21 Commonwealth statutes or regulations, the purpose or powers of 22 which include retaining or protecting natural, scenic, 23 agricultural or open-space values of real property; assuring the 24 availability of real property for agricultural, forest, 25 recreational or open-space use; protecting natural resources and 26 wildlife; maintaining or enhancing land, air or water quality; 27 or preserving the historical, architectural, archaeological or 28 cultural aspects of real property. 29 "Department." The Department of Environmental Resources of 30 the Commonwealth. 19950S0011B1017 - 5 -
1 "Economic development agencies." The term includes: 2 (1) Any redevelopment authority created under the act of 3 May 24, 1945 (P.L.991, No.385), known as the Urban 4 Redevelopment Law. 5 (2) Any industrial development agency as that term is 6 defined in the act of May 17, 1956 (1955 P.L.1609, No.537), 7 known as the Pennsylvania Industrial Development Authority 8 Act. 9 (3) Any industrial and commercial development authority 10 created under the act of August 23, 1967 (P.L.251, No.102), 11 known as the Economic Development Financing Law. 12 (4) Any area loan organization as that term is defined 13 in the act of July 2, 1984 (P.L.545, No.109), known as the 14 Capital Loan Fund Act. 15 (5) Any other Commonwealth or municipal authority which 16 acquires title or an interest in property. 17 (6) Municipalities or municipal industrial development 18 or community development departments organized by ordinance 19 under a home rule charter which buy and sell land for 20 community development purposes. 21 (7) Tourist promotion agencies or their local community- 22 based nonprofit sponsor which engage in the acquisition of 23 former industrial sites as part of an "Industrial Heritage" 24 or similar program. 25 (8) Conservancies engaged in the renewal or reclamation 26 of an industrial site. 27 "Environmental acts." Collectively and separately, the act 28 of June 22, 1937 (P.L.1987, No.394), known as The Clean Streams 29 Law, the act of January 8, 1960 (1959 P.L.2119, No.787), known 30 as the Air Pollution Control Act, the act of July 7, 1980 19950S0011B1017 - 6 -
1 (P.L.380, No.97), known as the Solid Waste Management Act, the 2 act of October 5, 1984 (P.L.734, No.159), known as the Worker 3 and Community Right-to-Know Act, the act of July 13, 1988 4 (P.L.525, No.93), referred to as the Infectious and 5 Chemotherapeutic Waste Law, the act of October 18, 1988 6 (P.L.756, No.108), known as the Hazardous Sites Cleanup Act, the 7 act of July 6, 1989 (P.L.169, No.32), known as the Storage Tank 8 and Spill Prevention Act, the act of December 7, 1990 (P.L.639, 9 No.165), known as the Hazardous Material Emergency Planning and 10 Response Act, and the act of June 11, 1992 (P.L.303, No.52), 11 known as the Oil Spill Responder Liability Act, and all such 12 acts as they may be amended from time to time, and any Federal, 13 State or local law, statute, regulation, rule, ordinance, court 14 or administrative order or decree, interpretation or guidance, 15 now or hereafter in existence pertaining to employees, 16 occupational health and safety, public health or safety, natural 17 resources or the environment. 18 "Environmental due diligence." Investigative techniques, 19 including, but not limited to, visual property inspections, 20 electronic environmental data base searches, review of ownership 21 and use history of the property, environmental questionnaires, 22 transaction screens, environmental assessments or audits. 23 "Fiduciary." Any person which is considered a fiduciary 24 under section 3(21) of the Employee Retirement Income Security 25 Act of 1974 (Public Law 93-406, 88 Stat. 829) or who acts as 26 trustee, executor, administrator, custodian, guardian of 27 estates, conservator, committee of estates of persons who are 28 disabled, personal representative, receiver, agent, nominee, 29 registrar of stocks and bonds, assignee or in any other capacity 30 for the benefit of another person. 19950S0011B1017 - 7 -
1 "Foreclosure." The date upon which title vests in property 2 through realizing upon a security interest, including, but not 3 limited to, any ownership of property recognized under 4 applicable law as vesting the holder of the security interest 5 with some indicia of title, legal or equitable title obtained at 6 or in lieu of foreclosure, sheriff sales, bankruptcy 7 distributions and their equivalents. 8 "Fund." Collectively and separately, any special fund of 9 Commonwealth moneys administered by the Commonwealth or the 10 Department of Environmental Resources, including, but not 11 limited to, the Hazardous Sites Cleanup Fund and the Underground 12 Storage Tank Indemnification Fund, as well as any other fund of 13 Commonwealth moneys now or hereafter in existence created for 14 the funding or reimbursement of costs and damages such as 15 response costs, emergency response measures and their equivalent 16 relating to natural resources or the environment. 17 "Guarantor." The term includes guarantors and sureties of 18 security interests, securities and other obligations, issuers of 19 letters of credit and other credit enhancements, title insurers 20 and entities which directly or indirectly acquire indicia of 21 ownership in the course of protecting a security interest or 22 acting as such guarantors, sureties, issuers of letters of 23 credit or other credit enhancements or title insurers. The term 24 includes guaranties, surety bonds, title insurance policies, 25 letters of credit and other credit enhancements, and other 26 agreements with a guarantor relating to the obligations 27 described in this definition. The term directly or indirectly 28 includes any interest in property, security interest, indicia of 29 ownership title or right to title held or acquired by a 30 fiduciary or similar entity for the benefit of a holder of a 19950S0011B1017 - 8 -
1 security interest. 2 "Indicia of ownership." Any legal or equitable interest in 3 property acquired directly or indirectly: 4 (1) for securing payment of a loan or indebtedness, a 5 right of reimbursement or subrogation under a guaranty or the 6 performance of another obligation; 7 (2) evidencing ownership under a lease financing 8 transaction where the lessor does not initially select or 9 ordinarily control the daily operation or maintenance of the 10 property; or 11 (3) in the course of creating, protecting or enforcing a 12 security interest or right of reimbursement of subrogation 13 under a guaranty. 14 The term includes evidence of interest in mortgages, deeds of 15 trust, liens, surety bonds, guaranties, lease financing 16 transactions where the lessor does not initially select or 17 ordinarily control the daily operation or maintenance of the 18 property, other forms of encumbrances against property 19 recognized under applicable law as vesting the holder of the 20 security interest with some indicia of title. 21 "Industrial activity." Commercial, manufacturing, public 22 utility, mining or any other activity done to further either the 23 development, manufacturing or distribution of goods and 24 services, intermediate and final products and solid waste 25 created during such activities, including, but not limited to, 26 administration of business activities, research and development, 27 warehousing, shipping, transport, remanufacturing, stockpiling 28 of raw materials, storage, repair and maintenance of commercial 29 machinery and equipment and solid waste management. 30 "Industrial site." A site which now has or once had an 19950S0011B1017 - 9 -
1 industrial activity on it. 2 "Lender." Any person regulated or supervised by any Federal 3 or State regulatory agency and any of its affiliates or 4 subsidiaries, successors or assigns, including its officers, 5 directors, employees, representatives or agents, and any Federal 6 or State banking or lending agency or its successors, including, 7 but not limited to, Resolution Trust Corporation, Federal 8 Deposit Insurance Corporation, Federal Reserve Bank, Board of 9 Governors of the Federal Reserve System, Federal Home Loan Bank, 10 National Credit Union Administrator Board, Office of the 11 Comptroller of the Currency, Office of Thrift Supervision, Farm 12 Credit Administration and Small Business Administration or 13 similarly chartered Federal instrumentality. The term also 14 includes the initial lender and any subsequent holder of a 15 security interest or note, guarantor, lease financier or any 16 successor or a receiver or other person who acts on behalf or 17 for the benefit of a holder of a security interest. The term 18 includes an economic development agency. 19 "Occupant." A party which occupies or has the right to 20 occupy property owned by an economic development agency by any 21 instrument, including, but not limited to, a lease, mortgage, 22 installment sale contract, disposition agreement or trust 23 agreement. 24 "Person." An individual, partnership, corporation, business 25 trust, joint-stock fund, estate trust, banking association, 26 governmental, administrative or regulatory agency, institution 27 or any other type of legal entity whatsoever. 28 "Property." All types of real and personal and tangible and 29 intangible property. 30 "Redevelopment." Undertakings and activities made under the 19950S0011B1017 - 10 -
1 act of May 24, 1945 (P.L.991, No.385), known as the Urban 2 Redevelopment Law, including, but not limited to, planning, 3 acquisition, site preparation, demolition, rehabilitation, 4 renovation, conservation, reuse, renewal, improvement, 5 clearance, sale and lease of real property and improvements 6 thereon. 7 "Regulated substance." Any element, compound or material 8 which is subject to regulation under the environmental acts or 9 any element, compound or material defined as a hazardous, toxic, 10 regulated infectious chemotherapeutic substance or chemical 11 contaminant, waste, any type of pollution or condition or any 12 equivalent under the environmental acts. 13 "Release." Any spill, rupture, emission, discharge, other 14 action, occurrence, condition or any other term defined as a 15 "release" or other threat of release or operative word or event 16 which would trigger compliance requirements or liability under 17 the environmental acts. 18 "Response action." An action, including, but not limited to, 19 a response or interim response, remedial response or remedy or 20 corrective action, closure, or any other action under the 21 environmental acts in response to a release, such as testing, 22 inspections, sampling, installations, corrective action, 23 removals, closure, response costs, assessments or any types of 24 claims, damages, actions, fines and penalties. 25 "Security interest." An interest in property created or 26 established for the purpose of securing a loan, right of 27 reimbursement or subrogation under a guaranty or other 28 obligation or constituting a lease financing transaction. The 29 term includes security interests created under 13 Pa.C.S. 30 (relating to commercial code), mortgages, deeds of trust, liens, 19950S0011B1017 - 11 -
1 lease financing transactions in which the lessor does not 2 initially select or ordinarily control the daily operation or 3 maintenance of the property, trust receipt transactions and 4 their equivalents. Security interest may also arise from 5 transactions such as sales and leasebacks, conditional sales, 6 installment sales, certain assignments, factoring agreements, 7 accounts receivable, financing arrangements and consignments, if 8 the transaction creates or establishes an interest in property 9 for the purpose of securing a loan, right of reimbursement or 10 subrogation under a guaranty or other obligation. The term also 11 includes a confession of judgment or money judgment whereby a 12 lender commences an execution on such judgments with a writ of 13 execution and thereby causes property to be levied and attached. 14 Section 4. Limitation of economic development agency 15 environmental liability. 16 An economic development agency that holds an indicia of 17 ownership in property as a security interest for the purpose of 18 developing or redeveloping the property or to finance an 19 economic development or redevelopment activity shall not be 20 liable under the environmental acts to the department or to any 21 other person in accordance with the following: 22 (1) An economic development agency shall not be liable 23 in an action by the department, as a responsible person, 24 owner, operator or occupier, for remediating a release if the <-- 25 economic development agency demonstrates any of the 26 following: 27 (i) The economic development agency exercised 28 reasonable maintenance of the property when it had 29 possession of the property. 30 (ii) The economic development agency, including its 19950S0011B1017 - 12 -
1 employees and agents, did not cause or exacerbate a 2 release of regulated substances on or from the property. 3 (iii) The property is an industrial site. UNLESS THE <-- 4 ECONOMIC DEVELOPMENT AGENCY, ITS EMPLOYEES OR AGENTS 5 DIRECTLY CAUSE AN IMMEDIATE RELEASE, OR DIRECTLY 6 EXACERBATE A RELEASE, OF A REGULATED SUBSTANCE ON OR FROM 7 THE PROPERTY. 8 (2) An economic development agency which forecloses on 9 or assumes possession of a property shall remain within the 10 exemption from liability under this section. 11 (3) An economic development agency that conducts a 12 remedial action in accordance with a written agreement with 13 the department shall not be liable, as a responsible party, 14 owner, operator or occupier, in any action by the department 15 for a release or potential release of any regulated 16 substance. 17 (4) There is cooperation with governmental agencies 18 performing a remedial action, as follows: 19 (i) An economic development agency and any of its 20 successors and assigns may take no action that would 21 disturb or be inconsistent with remedial response that is 22 proposed, approved or implemented by the Federal 23 Environmental Protection Agency. 24 (ii) An economic development agency and any of its 25 successors and assigns shall permit access to Federal and 26 Commonwealth agencies and other parties acting under the 27 direction of these agencies to evaluate, perform or 28 maintain a remedial action. 29 (iii) An economic development agency or any of its 30 successors and assigns shall perform, operate and 19950S0011B1017 - 13 -
1 maintain remedial actions pursuant to State laws as 2 directed by the department. 3 Section 5. Limitation of lender environmental liability. 4 (a) Scope of lender liability.--A lender who engages in 5 activities involved in the routine practices of commercial 6 lending, including, but not limited to, the providing of 7 financial services, holding of security interests, workout 8 practices, foreclosure or the recovery of funds from the sale of 9 property shall not be liable under the environmental acts or 10 common law equivalents to the Department of Environmental 11 Resources or to any other person by virtue of the fact that the 12 lender engages in such commercial lending practice unless: 13 (1) the lender, its employees or agents directly cause 14 an immediate release or directly exacerbate a release of 15 regulated substances on or from the property; or 16 (2) the lender, its employees or agents knowingly and 17 willfully compelled the borrower to: 18 (i) do an action which caused an immediate release 19 of regulated substances; or 20 (ii) violate an environmental act. 21 (b) Limitation of lender liability.--Liability pursuant to 22 this act shall be limited to the cost for a response action 23 which may be directly attributable to the lender's activities as 24 specified in subsection (a). Liability shall arise only if the 25 lender's actions were the proximate and efficient cause of the 26 release or violation. Ownership or control of the property after 27 foreclosure shall not by itself trigger liability. No lender 28 shall be liable for any response action, if such response action 29 arises solely from a release of regulated substances which 30 occurred prior to or commences before and continues after 19950S0011B1017 - 14 -
1 foreclosure, provided, however, that the lender shall be 2 responsible for that portion of the response action which is 3 directly attributed to the lender's exacerbation of a release. A 4 release of regulated substances discovered in the course of 5 conducting environmental due diligence shall be presumed to be a 6 prior or continuing release on the property. 7 Section 6. Limitation of fiduciary environmental liability. 8 (a) Scope of fiduciary liability.--Any person who acts or 9 has acted as a fiduciary to another person shall not be liable 10 in its personal or individual capacity under the environmental 11 acts or common law equivalents to the department or to any other 12 person by virtue of the fact that the fiduciary provides or 13 provided such services unless: 14 (1) during the time when the fiduciary services were 15 actively provided, an event occurred which constituted a 16 release of regulated substances according to the 17 environmental acts at the time of such event; 18 (2) the fiduciary had the express power and authority to 19 control property which was the cause of or the site of such 20 release as part of actively providing services; and 21 (3) the release was caused by an act or omission which 22 constituted gross negligence or willful misconduct of the 23 fiduciary according to the law or standard practices at the 24 time of the release. 25 (b) Limitation of fiduciary liability.--Liability under this 26 act shall be limited to only the cost for a response action 27 which is directly attributable to the fiduciary's activities as 28 specified in this section. Under subsection (a)(2), control of 29 property shall be deemed to be in the lessee and not the lessor 30 for leased property. No fiduciary shall be liable for any 19950S0011B1017 - 15 -
1 response action, if such response action arises from a release 2 of regulated substances which occurred prior to, or commences 3 before and continues after the fiduciary takes action as 4 specified in subsection (a). Notwithstanding the foregoing, a 5 fiduciary shall be responsible for that portion of a response 6 action which is directly attributable to exacerbating a release. 7 A release of regulated substances discovered in the course of 8 conducting an environmental due diligence shall be presumed to 9 be a prior and continuing release on the property. 10 (c) Estate claims.--Nothing in this section shall prevent 11 claims against the fiduciary in its representative capacity. 12 Section 7. Defenses to liability. 13 A lender, fiduciary or economic development agency can avoid 14 liability under the environmental acts or the common-law 15 equivalents by showing evidence that a release or threatened 16 release of regulated substances for which the lender or 17 fiduciary otherwise is responsible under sections 4, 5 and 6 was 18 caused by any of the following: 19 (1) An act of God. 20 (2) An intervening act of a public agency. 21 (3) Migration from property owned by a third party. 22 (4) Actions taken or omitted in the course of rendering 23 care, assistance or advice in accordance with the 24 environmental acts or at the direction of the department. 25 (5) An act of a third party who was not an agent or 26 employee of the lender, fiduciary or economic development 27 agency. 28 (6) If the alleged liability for a lender or economic 29 development agency arises after foreclosure, and the lender 30 or economic development agency exercised due care with 19950S0011B1017 - 16 -
1 respect to the lender's or economic development agency's 2 knowledge about the regulated substances, and took reasonable 3 precautions based upon such knowledge against foreseeable 4 actions of third parties and the consequences arising 5 therefrom. A lender, fiduciary or economic development agency 6 can avoid liability by proving any other defense which may be 7 available to it under the environmental acts or common law. 8 Section 8. Savings clause. 9 Nothing in this act shall affect the rights, immunities or 10 other defenses that are available under other applicable law to 11 a lender, fiduciary or economic development agency, including, 12 but not limited to, rights of contribution and indemnity. 13 Nothing in this act shall be construed to create any new, 14 different or additional liability for or create a private right 15 of action against any lender, fiduciary or economic development 16 agency. 17 Section 9. Apportionment of liability. 18 Notwithstanding anything to the contrary, if two or more 19 persons acting independently cause distinct harm or a single 20 harm for which there is a reasonable basis for division 21 according to the contribution of each, a lender, fiduciary or 22 economic development agency shall be subject to liability only 23 for the portion of the total liability that is directly 24 attributable to the lender, fiduciary or economic development 25 agency. 26 Section 10. Construction of act. 27 The terms and conditions of this act are to be liberally 28 construed so as to best achieve and effectuate the goals and 29 purposes of this act. Liability shall be based on proximate and 30 efficient causation. This act preempts and eliminates all 19950S0011B1017 - 17 -
1 present liability standards, including, but not limited to, the 2 concept of a person who, without participation in the management 3 of property, holds indicia of ownership primarily to protect a 4 security interest. Under all provisions herein, the burden of 5 proof shall be upon the person seeking to have a lender, 6 fiduciary or economic development agency held liable for a 7 response action or damages. 8 Section 11. Severability. 9 The provisions of this act are severable. If any provision of 10 this act or its application to any person or circumstance is 11 held invalid, the invalidity shall not affect other provisions 12 or applications of this act which can be given effect without 13 the invalid provision or application. 14 Section 12. Repeals. 15 To the extent that any environmental acts are inconsistent 16 with this act, or pose liability as addressed in this act, such 17 provision of those laws are preempted and deemed repealed so 18 that the provisions of this act may be enforced. No 19 environmental law enacted after this act shall be applied 20 retroactively to impose liability upon lenders, fiduciaries or 21 economic development agencies, unless there are express 22 repealers which explain the extent of the repeal. 23 Section 13. Applicability. 24 The provisions of this act shall apply to the following: 25 (1) All indicia of ownership, including those presently 26 or subsequently acquired, or those acquired prior to the date 27 of enactment that are held primarily to protect a security 28 interest in the property. 29 (2) Each fiduciary with respect to any services provided 30 by the fiduciary, including those presently or subsequently 19950S0011B1017 - 18 -
1 provided, and those rendered prior to the date of enactment. 2 (3) All administrative actions, actions, suits or claims 3 against lenders, fiduciaries or economic development agencies 4 not yet finally resolved by the department or any court or 5 administrative hearing board having any action, suit or claim 6 pending before it or an appeal from a lower court, regardless 7 of when the release or interest in the subject property 8 occurred. 9 Section 14. Effective date. 10 This act shall take effect immediately upon the effective 11 date of the act of , 1995 (P.L. , No. ), known 12 as the Land Recycling and Environmental Remediation Standards 13 Act. A3L27JAM/19950S0011B1017 - 19 -