WASHINGTON, D.C. — The U.S. Senate has passed S. 350, the bipartisan Brownfields Revitalization and Environmental Restoration Act of 2001, by a vote of 99-0.
S. 350 provides Superfund liability relief that gives a strong incentive for real estate developers to cleanup and reuse brownfields sites.
"With the overwhelming bipartisan support of S. 50, we are hopeful that the U.S. House of Representatives will act quickly on brownfields reform legislation," said Thomas J. Bisacquino, president of the National Association of Industrial and Office Properties (NAIOP). "We will continue to work with the House to pass similar legislation. And while we realize that there are those who wanted this bill to go further, our members feel that S. 350 will take strides in increasing the development of brownfields."
