Division of Waste Management Nearing Completion on Draft Bona Fide Prospective Purchaser Regulation
The 2012 General Assembly passed House Bill 465. The purpose of HB 465 was to develop a process where a person can purchase property that may be or is subject to KRS 224.01-400 or KRS 224.01-405 to voluntarily seek written certainty from the Cabinet that specifies that the purchaser will not be responsible for the clean-up of the contamination. The bill also made significant clarifications regarding UST facilities found in KRS 224.60-135 and KRS 224.60-138. House Bill 465 was codified at KRS 224.01-415 and the Division of Waste Management is working on regulation development to implement this statute to promote the redevelopment of Brownfields sites in Kentucky. DWM expects to issue a draft regulation this summer and will establish a schedule of working group meetings to discuss the draft. Bingham Greenebaum Doll will continue to track the regulation development process and will provide updates in future issues of the Environmental Letter.
To view a complete PDF of the March/April 2013 issue of the Environmental Letter, click HERE.