Urban Environmental Initiative Act

[AI summary unavailable — showing source text] Urban Environmental Initiative Act - Directs the Administrator of the Environmental Protection Agency to: (1) report to the Congress on health-based State laws and standards for the cleanup of sites at which hazardous substances were released or disposed; and (2) make recommendations to States on such standards, including guidance on the development of standards for sites in urban areas. Requires the Administrator to report to the Congress on State property transfer laws and whether such laws: (1) promote better land management practices; (2) help locate sites on which hazardous substances have been released or disposed; and (3) provide better protection for the buyer. Directs the Administrator to establish a computer data base that contains a national Superfund site inventory and includes information on any Federal action at a site or facility at which a hazardous substance was released or disposed. Requires the Administrator to: (1) prepare a list of Superfund sites located in urban areas that would be suitable for economic development ("targeted sites"); and (2) carry out a study of the effectiveness of technologies for conducting response actions at targeted sites. Authorizes t…