I
106TH CONGRESS
1ST SESSION
H. R. 2921
To amend the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980 relating to settlements by certain qualified busi-
nesses, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 22, 1999
Mr. SHADEGG introduced the following bill; which was referred to the Com-
mittee on Commerce, and in addition to the Committee on Transportation
and Infrastructure, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall within
the jurisdiction of the committee concerned
A BILL
To amend the Comprehensive Environmental Response, Com-
pensation, and Liability Act of 1980 relating to settle-
ments by certain qualified businesses, and for other pur-
poses.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. CONSTITUTIONAL AUTHORITY.
The constitutional authority upon which this Act
rests is the power of Congress to make all laws which are
necessary and proper for carrying into execution the pow-
ers vested by the United States Constitution in the Gov-
ernment of the United States, or in any Department or
officer thereof, as contained in section 8 of article I of
the Constitution.
SEC. 2. QUALIFIED BUSINESS AND FINANCIAL HARDSHIP
SETTLEMENTS.
Section 122 of the Comprehensive Environmental Re-
sponse, Compensation, and Liability Act of 1980 (42
U.S.C. 9622) is amended by adding at the end the fol-
lowing:
‘‘(n) QUALIFIED BUSINESS SETTLEMENTS.—
‘‘(1) IN GENERAL.—Notwithstanding subsection
(a), the President shall enter into a settlement under
this section with a person (other than a person
whose liability under this Act arose from criminal
acts) that qualifies pursuant to this subsection with-
out regard to the extent of liability of such person.
‘‘(2) REQUEST.—An applicant seeking settle-
ment under this subsection shall submit, in writing,
a letter to the President requesting a qualified busi-
ness settlement under this subsection on a form pro-
vided by the President. The request letter shall in-
clude the applicant’s tax returns for the time periods
provided in paragraph (12). The President may re-
quire additional information to verify the applicant’s
eligibility for a settlement under this subsection. Fi-
nancial information submitted by the applicant
under this subsection and marked ‘confidential’ shall
be kept confidential by the President.
‘‘(3) SETTLEMENT AGREEMENT.—If the Presi-
dent verifies that the applicant meets the definition
of a qualified business, the President shall enter into
a settlement within 90 days after receipt of the re-
quest letter and other information required under
this subsection. The settlement shall meet the re-
quirements of this subsection, but without regard to
the extent of its liability, and shall require that—
‘‘(A) the business pay 5 percent of its av-
erage annual gross income for the 2 years pre-
ceding the year that the request was submitted
by the applicant over such period of time as the
President may provide, up to a maximum of 10
years, and subject to payment of interest at the
rate of 6 percent per year; except that if the
settlement amount is paid in full within the
first 5 years, the payments shall not be subject
to the payment of interest; and
‘‘(B) the qualified business shall cooperate
with the President in providing reasonable ac-
cess and information necessary for the Presi-