(5) A statement that a loan from the revolving
loan fund will not be used to pay for any of the fol-
lowing:
(A) New construction at previously unde-
veloped sites.
(B) Environmental fines or penalties.
(C) Speculative assessments or speculative
rehabilitation at facilities with little or no po-
tential for economic development.
(6) Such other elements as the Administrator
considers appropriate.
(c) AMOUNT OF LOAN.—The Administrator shall de-
termine the distribution of funds among the eligible
States. The amount of a capitalization loan made by the
Administrator under this Act to a State may not exceed
15 percent of the amount available each year to all the
eligible States.
(d) AUTHORIZATION.—There are authorized to be ap-
propriated to the Administrator for purposes of making
capitalization loans to States under the pilot project estab-
lished by this section the sum of $5,000,000 for fiscal year
1998 and $7,500,000 for each of the fiscal years 1999
and 2000.
SEC. 4. DEFINITIONS.
For purposes of this Act, the term ‘‘eligible facility’’
means a facility or property that is a low- or medium-
priority environmental hazard for the State, but whose en-
vironmental contamination is thought to be preventing the
timely use, redevelopment, or reuse of the facility or prop-
erty, and is thought to be limited in scope and readily as-
sessable, except that such term shall not include any of
the following:
(1) A facility for which an abatement action has
been taken or is scheduled to be taken under section
106 of the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980 or for
which an action has been taken or is scheduled to
be taken under section 7003 of the Solid Waste Dis-
posal Act.
(2) A facility that is the subject of a Federal
response action under section 104 of the Com-
prehensive Environmental Response, Compensation,
and Liability Act of 1980 (42 U.S.C. 9601 et seq.).
(3) A facility included on the National Prior-
ities List or proposed for inclusion and for which
documentation for listing has been prepared by the
State or the Administrator.
(4) A facility required to have a permit under
section 3005 of the Solid Waste Disposal Act that
does not have a permit under that section and does
not qualify for authorization to operate in interim
status under subsection (e) of that section.
(5) A land disposal unit with respect to which
a closure requirement under subtitle C of the Solid
Waste Disposal Act (42 U.S.C. 6921 et seq.) is sub-
mitted and closure requirements are specified in a
closure plan or permit.
(6) A facility that is the subject of a corrective
action under section 3004(u) or 3008(h) of the Solid
Waste Disposal Act (42 U.S.C. 5924(u) or 6928(h))
that has been evaluated as high priority under the
Environmental Protection Agency’s National Correc-
tive Action Priority System as set forth in regula-
tions under subtitle C of the Solid Waste Disposal
Act.
(7) A facility at which assistance for response
activities may be obtained pursuant to subtitle I of
the Solid Waste Disposal Act (42 U.S.C. 6991 et
seq.) from the Leaking Underground Storage Tank
Trust Fund established under section 9508 of the
Internal Revenue Code of 1986.
(8) A facility owned or operated by a depart-
ment, agency, or instrumentality of the United
States.
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