ASTM Releases New Phase I Standard: What Does It Mean For Purchasers?

The United States Environmental Protection Agency (EPA) issued a notice in the Federal Register on Aug. 15, 2013, of a direct final rule to allow purchasers to follow ASTM's new Phase I standard E1527-13 (the New Standard) in addition to E1527-05 (the Existing Standard) in meeting the federal all appropriate inquiries (AAI) requirements that are critical to the innocent purchaser, bona fide prospective purchaser and contiguous landowner defenses to liability under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Due to adverse comments on the proposed rule, EPA withdrew it on Oct. 29, 2013. Apparently the comment of concern was that allowing the use of both the New Standard and Existing Standard would be confusing to purchasers. Although EPA had an advance copy of the New Standard for its rulemaking, ASTM did not release the New Standard to the public until this month. EPA is expected to issue a final rule late this year or early next