ment by such person to redevelop such facility after
a response action has been completed (as determined
by the President) at such facility.
‘‘(2) QUALIFIED REDEVELOPER.—For purposes
of this subsection, the term ‘qualified redeveloper’
means a person who is not otherwise liable under
section 107 and did not cause or contribute to the
release or threat of release which necessitated the
response action referred to in paragraph (1).’’.
SEC. 112. LIABILITY OF RESPONSE ACTION CONTRACTORS.
(a) EXTENSION OF NEGLIGENCE STANDARD.—Sub-
section (a) of section 119 of the Comprehensive Environ-
mental Response, Compensation, and Liability Act of
1980 is amended—
(1) in paragraph (1) by striking out ‘‘title or
under any other Federal law’’ and inserting in lieu
thereof ‘‘title, under any other Federal law, or under
the law of any State or political subdivision of a
State’’; and
(2) by adding at the end of paragraph (2) the
following: ‘‘Such conduct shall be evaluated based on
the generally accepted standards and practices in ef-
fect at the time and place that the conduct
occurred.’’.
(b) EXTENSION
OF
INDEMNIFICATION
AUTHOR-
ITY.—Section 119(c) of such Act is amended by adding
at the end of paragraph (1) the following: ‘‘Any such
agreement may apply to claims for negligence arising
under Federal, State, or common law.’’.
(c) EXTENSION OF COVERAGE.—Section 119(e) of
such Act is amended in the text appearing after subpara-
graph (D)—
(1) by striking out ‘‘List, or any removal under
this Act,’’ and inserting in lieu thereof ‘‘List, any re-
moval under this Act, or any response action under
this Act at a facility using an alternative or innova-
tive technology,’’; and
(2) by inserting before the period the following:
‘‘, or to undertake appropriate natural resource res-
toration actions necessary to protect and restore any
natural resources damaged by such release or threat-
ened release of a hazardous substance or pollutant
or contaminant’’.
(d) INDEMNIFICATION
FOR
THREATENED
RE-
LEASES.—Section 119(c)(5) of such Act is amended in
subparagraph (A) by inserting ‘‘or threatened release’’
after ‘‘release’’ both places it appears.
(e) CLARIFICATION OF LIABILITY.—Section 101 of
such Act, as amended by section 106, is further amended
by adding at the end of paragraph (20) the following:
‘‘(F) The term ‘owner or operator’ does not in-
clude any person carrying out a written contract or
agreement with any Federal agency, any State (or
any political subdivision of a State), or any respon-
sible party to provide any response action or any
form of services or equipment ancillary to such re-
sponse action. Any such person shall not be consid-
ered to have caused or contributed to any release or
threatened release of, or to have arranged for dis-
posal or treatment of, or arranged with a trans-
porter for transport for disposal or treatment of, or
transported, hazardous substances or pollutants or
contaminants. This subparagraph shall not apply to
any person potentially responsible under section 106
or 107 other than those persons associated solely
with the provision of response action or any form of
ancillary services or equipment.’’.
(f) FEDERAL STATUTE OF REPOSE.—Section 119 of
such Act is further amended by adding at the end the fol-
lowing new subsection:
‘‘(g) LIMITATION ON ACTIONS AGAINST RESPONSE
ACTION CONTRACTORS.—No action to recover for any in-
jury to property, real or personal, or for bodily injury or
wrongful death, or any other expenses or costs arising out
of the performance of services under a response action
contract, nor any action for contribution or indemnity for
damages sustained as a result of such injury, shall be
brought against any response action contractor more than
6 years after the completion of work at any site under
such contract. The limitation prescribed in this subsection
shall not affect any right of indemnification that such re-
sponse action contractor may have under this section or
may acquire by written agreement with any party.’’.
TITLE II—FUNDING
SEC. 201. HAZARDOUS SUBSTANCE REVOLVING FUND.
(a) ESTABLISHMENT
OF FUND.—There is estab-
lished in the Treasury of the United States a fund to be
known as the Hazardous Substance Revolving Fund (here-
inafter in this section referred to as the ‘‘Revolving
Fund’’), consisting of such amounts as may be—
(1) appropriated, credited, or transferred to the
Hazardous Substance Superfund; and
(2) credited or transferred to the Revolving
Fund.
(b) OFFSETTING COLLECTIONS.—For purposes of
the Congressional Budget Act of 1974 (2 U.S.C. 601 et
seq.) and part C of the Balanced Budget and Emergency
Deficit Act of 1985 (2 U.S.C. 900 et seq.), all amounts
received in the Revolving Fund shall be treated as offset-
ting collections.
(c) USE OF REVOLVING FUND.—Amounts in the Re-
volving Fund shall be available, as provided in appropria-
tion Acts, only for purposes of making expenditures—
(1) to carry out the purposes of paragraphs (1)
and (2) of section 111(a) of the Comprehensive En-
vironmental Response, Compensation, and Liability
Act of 1980 (42 U.S.C. 9611(a));
(2) to carry out the purposes of paragraphs (3),
(4), (5), (6), (8), (9), and (11) of section 111(c) of
such Act;
(3) to carry out the purposes of section 111(m)
of such Act;
(4) for reimbursement as provided in section
107(n) of such Act (as added by section 102 of this
Act); and
(5) to carry out the purposes specified in title
V of such Act (as added by section 110 of this Act).
(d) INVESTMENT.—(1) It shall be the duty of the
Secretary of the Treasury to invest such portion of the
Revolving Fund as is not, in his judgment, required to
meet current withdrawals. Such investments may be made
only in interest-bearing obligations of the United States.
For such purpose, such obligations may be acquired—
(A) on original issue at the issue price, or
(B) by purchase of outstanding obligations at
the market price.
(2) Any obligation acquired by the Revolving Fund
may be sold by the Secretary of the Treasury at the mar-
ket price.
(3) The interest on, and the proceeds from the sale
or redemption of, any obligation held in the Revolving
Fund shall be credited to and form a part of the Revolving
Fund.
(e) EFFECTIVE DATE.—This section shall take effect
on October 1, 1996.
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