HR 3506 · 103th Congress · Environmental Protection
To amend the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 with respect to interest on amounts recoverable under that Act.
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Transportation and Hazardous Materials.(1993-12-03)
Plain Language Summary
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Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to require interest on amounts recoverable under actions regarding liability for hazardous substance releases to accrue from the later of: (1) the date notice of potential liability is provided by the President (currently, the date payment of a specified amount is demanded in writing); or (2) the date of the expenditure concerned. Requires the rate of interest on the unpaid balance of recoverable amounts to be the same as specified for interest on investments of the Hazardous Substance Superfund, plus three percentage points (currently, the rate of interest is that specified for interest on investments of the Superfund).…
Summarized by Claude AI · Non-partisan · For informational purposes only