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Senate passes bill to align Utah environmental law with federal lender exemptions, sponsors say it will encourage lending

Utah State Senate · February 22, 1993

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Summary

Senate Bill 120, which adds lender and fiduciary exemptions to Utah’s hazardous-substance and underground storage tank liability schemes (excluding residential property), passed third reading 28–0 with one absence; sponsors said it conforms state law to federal CERCLA/RCRA precedents and aims to promote economic development.

Senate Bill 120, described on the floor as a technical but important realignment of Utah law with recent federal rules, passed third reading after the Health and Environment Committee’s report was adopted. Senator Reese explained the bill would provide a lender exemption similar to federal…

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