EPA Moves Forward with Proposed Changes to Environmental Due Diligence Standards

Originally published 1st Quarter, 2004

After more than six months of intense negotiations, an EPA Negotiated Rulemaking Committee has finalized a proposed rule that will govern environmental due diligence investigations in the future. The proposed rule was the product of compromises made by a wide array of stakeholders, including representatives of banking associations; environmental professionals; federal, state and local agencies; home builders; public interest groups; and environmental organizations. Compliance with the proposed "all appropriate inquiry" rule will be the first step toward qualifying for one of the Landowner Liability Protections (LLPs) established under the Small Business Liability Relief and Brownfields Revitalization Act (the Brownfields Amendments).