As detailed previously, the Inflation Reduction Act (IRA) offers incentives to renewable energy development that takes place on certain properties that are affected by potential or confirmed contamination. Under the IRA, a...more
Effective February 13, 2024, prospective purchasers and ground tenants of commercial and industrial property seeking liability protections under the Comprehensive Environmental Response, Compensation, and Liability Act...more
On May 8, 2024, the United States Environmental Protection Agency (“EPA”) published its final rule designating two types of per- and polyfluoroalkyl substances (“PFAS”) — specifically, perfluorooctanoic acid (“PFOA”) and...more
On April 19, 2024, EPA issued its long-awaited Final Rule officially listing two key per- and polyfluoroalkyl substances (PFAS), or so-called “forever chemicals,” as “hazardous substances” under the Comprehensive...more
As of February 13, 2024, ASTM E1527–21 is the required ASTM standard for All Appropriate Inquiries (AAI) in real estate transactions. Conducting AAI is required to establish the innocent landowner defense, as well as the bona...more
ASTM Standard E1527-13 died quietly on February 13, 2024, after a year of peaceful co-existence with its successor - ASTM Standard E1527-21. Both of the standards, which describe the methodology for conducting a Phase I...more
Deadlines for compliance with central elements of Reese’s Law are fast approaching. Many consumer products that use coin or button cell batteries will have to comply with the UL 4200A-2023 standard (and be tested to confirm...more
On September 12, 2023, the Court of Appeals for the District of Columbia issued its opinion in American Society for Testing and Materials (ASTM) v. Public.Resource.Org, Inc., holding that non-commercial use of standards...more
As regulation of vapor intrusion continues to evolve and escalate costs at contaminated sites, due diligence practices for vapor intrusion must also continue to evolve. Potential purchasers should consider supplementing a...more
The IRS on June 15, 2023, updated its energy community bonus guidance by issuing Notice 2023-45 and Notice 2023-47. The IRS also recently issued energy community bonus guidance in Notice 2023-29. (For a summary of Notice...more
On June 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-45 and Notice 2023-47. Notice 2023-45 clarifies requirements for a brownfield site energy community safe harbor provided...more
On December 15, 2022, the United States Environmental Protection Agency (EPA) published the Final Rule, entitled "Standards and Practices for All Appropriate Inquiries," updating the Phase I Environmental Site Assessment...more
The Minnesota Legislature has passed landmark environmental legislation with far-reaching consequences for regulated industries throughout the state. The bill provides approximately $1 billion in new spending for...more
The U.S. Consumer Product Safety Commission last week published a final rule finding that ASTM F2057-23 meets the requirements of the Stop Tip-overs of Unstable, Risky Dressers on Youth (STURDY) Act and adopting it as a...more
Every eight years, standards for environmental Phase I reports are updated – and, typically, made more detailed and stringent. The standards were most recently updated in 2021, and the updated version was approved by the U.S....more
On April 19, 2023, in a 3-to-1 vote, the Consumer Product Safety Commission (CPSC) determined that ASTM F2057-23 meets the requirements of the Stop Tip-overs of Unstable, Risky Dressers on Youth (STURDY) Act and adopted it as...more
Thanks to the Inflation Reduction Act (IRA), which went into effect in January, it can pay to be a brownfield – a term used to refer to a property that is affected by potential or confirmed contamination. Specifically, the...more
On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more
On December 22, 2022, EPA authorized use of the latest version of the ASTM standard for performing Phase 1 environmental site investigations—E1527-21, as an option for satisfying Superfund’s all appropriate inquiries (AAI)...more
On February 13, 2023, the Environmental Protection Agency’s (EPA) final rule amending the All Appropriate Inquiries (AAI) rule took effect. Under the new rule, prospective purchasers of contaminated property can use ASTM...more
The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property. A Phase I ESA includes a site inspection and review of current and past uses and...more
Seyfarth Synopsis: ASTM 1527-21 is now in effect. The ASTM Standard for Phase I Environmental Site Assessments is evaluated every eight years. The most recent update, ASTM E1527 – 21, approved by the United States...more
On December 15, 2022, the United States Environmental Protection Agency (EPA) published a notice of a Final Rule approving the use of a new American Society for Testing & Materials (ASTM) standard for conducting Phase I...more
For transactions in 2023 and going forward, parties who purchase property will want to be aware of an update applicable to Phase I reports. By final rule issued on December 15, 2022, the U.S. Environmental Protection Agency...more
What are PFAS and What’s the Big Deal? PFAS, short for per- and poly-fluoroalkyls substances are man-made chemicals used to make hundreds of products for home and industry use, ranging from stain proofing and waterproofing...more