Superfund Liability Clarification Act

[AI summary unavailable — showing source text] Superfund Liability Clarification Act - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to exclude from the definition of "owner or operator," for purposes of limiting liability for releases of hazardous substances, a person who, without participating in the management of a vessel or facility, holds indicia of ownership primarily to protect a security interest in such vessel or facility. Defines "indicia of ownership" as evidence of interests in real or personal property held as security for a loan or other obligation. Applies such exclusion to mortgage lenders, insured depository institutions, or Federal lending institutions (lenders) that acquire such vessels or facilities through foreclosure or that conduct a restructuring of a loan or other extension of credit in compliance with specified guidelines. Specifies that "participation in the management of a vessel or facility" (by the lender) for purposes of such Act (in which case such exemption would not apply) does not include: (1) the sale of collateral; (2) actions taken by a lender to comply with such procedures or guidelines, including the conduct of a Phase I Environmental Audit of th…