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Code of Federal Regulations CFR Home Page
Federal Register Searchable site of the Federal Register
Accounting and Financial Reporting for Environmental Liabilities
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA or "Superfund")
Emergency Planning and "Community Right-to-Know" Act (EPCRA)
Oil Pollution Act of 1990 (OPA)
Pollution Prevention Act (PPA)
Resource Conservation and Recovery Act (RCRA)
Description: Each year companies both large and small are spending millions of dollars to comply with environmental regulations, remediate contaminated properties, settle personal injury or property damage claims, or pay punitive damages for environmental violations. Concerned that financial statements were not accurately reflecting environmental liabilities, The Securities and Exchange Commission (SEC) published Staff Accounting Bulletin (SAB) 92 mandating that corporations report expected environmental costs on their financial and nonfinancial reports. Both public and private companies are guided by accounting standards set by the Financial Accounting Standards Board (FASB). FASB 5 "Accounting for Contingencies" provides guidance in the treatment of environmental liabilities.
SEC Disclosure Requirements Under regulations promulgated by the Securities and Exchange Commission (SEC), certain kinds of environmental liabilities must be reported in documents disseminated to investors. This article from the Schnapf Environmental Law Center describes the disclosure obligations established by the SEC for environmental liabilities.
Environmental Remediation Liabilities: An Accountant's Prespective A guide to understanding the accounting and governmental regulations relating to environmental liability reporting.
ISAR's "Guidance Manual Accounting and Financial Reporting for Environmental Costs and Liabilities" A manual published by International Standards of Accounting and Reporting (ISAR) to give guidance on environmental accounting issues.
Tax Planning for Environmental Costs Two issues addressed in the article include a discussion on the deductibility of fines / penalities and are environmental costs deducted or capitalized.
Description: The 1970 Clean Air Act regulated air emissions and established air quality standards. The 1990 Clean Air Act Amendments address problems such as acid rain, urban air pollution, and toxic emissions as well as established a permits program and a compliance enforcement program.
The 1990 Clean Air Amendments :Full Text - Clean Air Act 42 U.S.C. 7401 et seq (1970)
Full Text - 1990 Clean Air Act Amendments
Brief Summary Brief description of the Clean Air Act Amendments.
The Plain English Guide To The Clean Air Act Excellent article, written in laymans terms, to understanding the Clean Air Act .
Title II - Emission Standards for Moving Sources - Title II establishes tighter pollution standards for emissions from mobile sources (auto, trucks, aircraft) by requiring a reduction in automobile air emissions and cleaner burning fuels.
Title III - Hazardous Air Pollutants - Title III requires a reduction of 189 specifically identified toxic air pollutants.
Lists of Lists The consolidated list includes chemicals that are subject to reporting under the Clean Air Act and the Emergency Planning and Community Right-to-Know Act.
The National-Scale Air Toxics Assessment EPA information estimating the outdoor concentrations of 32 common air toxics, nationwide, identified as posing the greatest potential risks to public health in urban areas.
Title IV - Acid Rain - Title IV requires a reduction of sulfur dioxide and nitrogen oxide emissions which are the main components of acid rain.
Title V - Permits - Title V requires all states to establish and administer a permitting program for major sources of air pollution therby ensuring compliance and enhancing enforcement.
Air Pollution Operating Permit Program Brochure Structure, purpose and goals of EPA's state permitting program to control air pollution.
Title VI - Upper Level Ozone - Title VI builds on the previous EPA regulations to phase out the production of substances that deplete the ozone layer.
Title VII - Enforcement Provisions - Title VII makes the law readily enforceable similar to other major environmental statutes.
Description: The Clean Water Act focused primarily on improving the quality of the nation's water. The objective was to eliminate pollutants being discharged into the waterways and to obtain fishable and swimmable water quality levels. The law was enacted in 1972, amended in 1977 and reauthorized in 1987.
Full Text - The Clean Water Act (CWA); 33 U.S.C. s/s 121 et seq. (1977)
Brief Summary Brief Summary of The Clean Water Act
Description: CERCLA was enacted by Congress in 1980 and authorized the federal government to respond quickly to releases of hazardous substances. The law seeks to hold those responsible who improperly disposed of hazardous waste and sets up a fund to finance clean up if the responsible party cannot be found or is not able to pay for clean up costs.
Brief Summary Brief description of CERCLA
EPA Superfund Home Page The Superfund home page is an excellent source to get more information about Superfund, site databases, publications and other information.
Policy and Guidance Documents Information source for liability, negotiations, and settlement procedures under CERCLA (Superfund)
Description: In 1986 the Superfund Amendments and Reauthorization Act (SARA) was signed into law. SARA amended the 1980 Comprehensive Environmental Response, Compensation and Liability Act (CERCLA or "Superfund"). Included in SARA was the Emergency Planning and "Community Right-to Know" Act, also known as SARA Title III, which setup chemical reporting requirements and the development of response plans in the event of an unanticipated chemical accident.
Brief Summary Brief description of EPCRA
Fact Sheet This fact sheet presents an overview of EPCRA reporting requirements and also lists references which contain detailed explanation of the subjects discussed.
Lists of Lists The consolidated list includes chemicals that are subject to reporting under the Emergency Planning and Community Right-to-Know Act and the Clean Air Act.
EPCRA Q & A The EPA has consolidated a list of questions from 1987 to the present about EPCRA. The list is very extensive.
Toxic Release Inventory The Emergency Planning and "Community Right-to-Know" Act established the Toxic Release Inventory, a national database that identifies facilities, chemicals manufactured and used at identified facilities, and the annual amounts of these chemicals released during operations or in accidents.
Fact Sheet about Toxic Release Inventory (TRI) A general overview of the TRI Program, factors to consider in using the TRI data, and the scope of the data.
Toxics Release Inventory State Fact Sheets (released May 2000) The EPA report provides a state by state analysis, a general overview of TRI and the 1998 TRI data, a description of the information included in the state fact sheet, and data summary tables.
Fact Sheet on Sick Building Syndrome EPA fact sheet includes introduction to Sick Building Syndrome, symptoms and causes.
Indoor Pollution in the office Article by the American Lung Association.
Sick Building Syndrome Environmental Health Center answers questions about Sick Building Syndrome.
'Sick Building Syndrome': A Diagnosis in Search of a Disease by Dr. Ronald E. Gots. Dr. Gots discusses the perceived danger of Sick Building Syndrome (SBS) versus the actual problem, indoor air quality incidents, and confusion over SBS.
Description: ISO 14000 is a series of standards addressing the environmental impact and management of a company's day-to-day operations. The standards are designed to provide a framework for creating an Environmental Management System (EMS). An EMS will contain the company's environmental policy, analyze their impact to the environment, set goals, integrate practices into procedures, commit to continuous improvement, and conduct environmental audits.
ISO 14000 Q&A Frequently asked questions about ISO 14000 and 14001 including information on obtaining copies of the ISO documents.
Description: Under RCRA Subtitle D, owners and operators of municipal landfills are required to meet financial assurance guidelines to guarantee that sufficient money is available to assure proper closure and long-term monitoring of landfills.
Full Text - The Resource Conservation and Recovery Act (RCRA) sets the standard for financial requirements for landfills and TSDFs. The federal requirements can be found in 40 CFR 264/265 Subpart H.
Link to 40 CFR 264. Financial assurance requirements found in Subpart H
Link to 40 CFR 265. Financial assurance requirement found in Subpart HEPA Office of Solid Waste Home Page Links and information about Hazardous Waste, Nonhazardous Waste, Landfills and Treatment, Storage, Disposal Facilities.
Introduction to RCRA Financial Assurance Produced by the EPA financial assurance regulations in layman's terms.
EPA Financial Assurance for Municipal Solid Waste Landfills Assurance Mechanisms for Local Government Owners of Municipal Solid Waste Landfills
EPA Disclosure Rule for Lead Based Paint Requires that notice of the existence of lead-based paint be provided to purchasers and lessees of housing built prior to 1978 prior to the sale or renting of the premises.
Fact Sheet on EPA Disclosure Rule Highlights of lead disclosure rule includes background information, requirements, and types of houses covered.
Lead Based Paint Disclosure and Waste Disposal Rules This article from the Schnapf Environmental Law Center discusses the new EPA rules on renovation of housing with lead-based paint and disposal of lead-based paint debris
Protect Your Family From Lead in Your Home Sellers and Landlords must give buyers and renters this pamphlet prior to ratification of contract to sell or lease a house built prior to 1978.
Disclosure Forms Two forms are available-one for disclosure of information for a house that is sold and one for property that is leased or rented.
Full Text - Oil Pollution Act (OPA) 33 U.S.C. 2702 to 2761
Brief Summary Brief description of OPA
Full Text - The Pollution Prevention Act (PPA); 42 U.S.C. 13101 and 13102, s/s et seq
Brief Summary Brief description of PPA
Description: The Resource Conservation and Recovery Act (RCRA) was enacted in 1976 to establish a system to control hazardous waste from its point of origin to its final disposal. RCRA regulates hazardous waste, solid waste such a household waste, and underground storage tanks that store petroleum or other hazardous substances.
Full Text - Resource Conservation & Recovery Act (RCRA), 42 U.S.C. 6901 et seq.
Brief Summary Brief description of RCRA
RCRA Orientation Manual Excellent manual for those new to RCRA who want an understanding of the basic framework and the sections and chapters contained in the act.
RCRIS Queries Hazardous waste data is contained in the Resource Conservation and Recovery Information System (RCRIS), in support of the Resource Conservation and Recovery Act (RCRA). RCRA requires that generators, transporters, treaters, storers, and disposers of hazardous waste provide information concerning their activities. The system is primarily used to track handler permit or closure status, compliant with Federal and State regulations, and cleanup activities. Other uses of the data include program management, regulation development, waste handler inventory, corrective action tracking, regulation enforcement, facility management planning, and environmental program progress assessment. This query allows you to retrieve selected data from the Resource Conservation and Recovery Information System (RCRIS).
Full Text - Safe Drinking Water Act 42 U.S.C. s/s 300f et seq. (1974)
Brief Summary Brief description of Safe Drinking Water Act
Full Text - The Superfund Amendments and Reauthorization Act (SARA); 42 U.S.C.9601 et seq. (1986)
Brief Summary Brief description of SARA
Full Text - 40 CFR 263 - Standards Applicable To Transporters Of Hazardous Waste RCRA transporter regulations.
Introduction to Transporters Training module explaining the regulatory requirements for transporters of hazardous waste.
Brief Summary Brief description of TSCA
Full Text - The Toxic Substances Control Act (TSCA); 15 U.S.C. s/s 2601 et seq. (1976)
(Also see ERRA's Articles for more on USTs)
Description: Subtitle I of RCRA mandates that the EPA set up a program that regulated USTs. The program set restrictions on UST design, construction, and installation. The program requires owners and operators to be responsible for release detection, reporting, corrective action, and proper closure. Financial responsibility criteria is spelled out in the regulations as well the lender liability rules. States are responsible for implementing a UST program using the federal regulations as their minimum standards.
Federal Regulations for USTs Links to the Code of Federal regulations for USTs found in 40 CFR Part 280 and 40 CFR Part 281, also codification of individual state and territorial programs in 40 CFR Parts 282.50-282.105 and the list of hazardous substances contained in 40 CFR Part 302.4.
Financial Responsibility for Underground Storage Tanks: A Reference Manual A 320-page guide published by the EPA that overviews the financial responsibility requirements, how each financial responsiblity mechanisms works and owner's responsibility for each mechanism.
US EPA Underground Storage Tank Financial Responsibility FAQ Brief overview of UST financial responsibility requirements.
US EPA Underground Storage Tank State Programs Information on state UST programs - what is their role, which states have approved programs?
State UST programs Links to state UST programs.
UST Regulatory Program This article by the Schnapf Environmental Law Center discusses the requirements of the federal underground storage tank program.including which tanks are regulated, notification requirements, design and construction requirements, release detection, and closure requirements.
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