None under the VCP.

* NY Bond Act protects lenders (subject to re-openers) and IDAs who serve as conduit financiers. 

* The liability protection for a Bond Act project is transferable to non-PRP successors in inter-est, and covers lessees and lenders.

* Expands safe harbor for lenders (and secured creditors) under both the oil (Title 4) and controlled hazardous substance (Title 7) programs.  Lenders can only be held responsible for cleanup costs incurred as a result of a release which they themselves caused or contributed to.

* Exempts lenders who extend credit for the performance of a removal or remedial action.

(Only clari-fies and narrows lender liability in relation to state enforce-ment; does not address third-party liability.)

* Holder of a mortgage or deed of trust who acquires by foreclosure

* Innocent purchaser

* Acquirer by inheritance or bequest

* Fiduciary

* State, county, or municipal government (or any other political subdivision)—except in a case of gross negligence or willful misconduct

* Innocent owners and operators

* Downgradient property owners if they have no connection with the property that contains the source and did not cause or contribute the release.

* Tenants – if the tenancy began after the release was reported to DEP and they did not cause or contribute to it.

* Redevelop-ment agencies and authorized Community Development Corps. (CDCs) and Economic Development and Indus-trial Corps. (EDICs) if they acquired the property after 8/5/98 and did not cause or contribute to the contamination – if they act diligently to divest them-selves of the property.

* Secured lenders – replaces “participation in management” std. with a caus-ation std. .  (Protects against third-party tort action as well as liability to the state.)

* Governmental bodies or charitable trusts (who hold a property restric-tion created for public benefit)

* Municipalities who foreclose for tax delinquency (but must act diligently to divest them-selves of the property).  They may also have a duty to respond to imminent hazards.

* Innocent purchasers.

* Owner operators of residential property.

* Lessee using property for retail, office, or commercial purposes.

* Voluntary transfers of property between the state and local units of government, or between local units of government.

* Off-site sources of contamination.

* Local government entities that acquire property through foreclosure, condemnation, or similar means.

* Lending institutions (for discharges from USTs).

* Developers in “qualified” municipalities, who did not cause past contamination, if they clean up in accordance with DEP regulations.

* Prospec-tive purch-asers.

* Innocent purchasers (1993)

* Presump-tive reme-dies (don’t require prior DEP appro-val).

* Act 3 extends liability pro-tection to financiers, such as economic development agencies, lenders, and fiduciaries.  (Protects against third-party tort actions as well as liability to the state.)

* Liability protection is provided to:

- the current or future owner or any other person who participated in the reme-diation of the site.

- a person who devel-ops or oth-erwise occu-pies the site.

-a successor or assign of any person to whom the liability protection applies

- a public utility to the extent it performs activities on the iden-tified site

- a person is not consid-ered a pers-on respon-sible for a release of a regulated substance simply by virtue of conducting an ESA or transaction screen on a property.