House Bill 272, passed by the 2005 Kentucky General Assembly, provides liability protection for bona fide prospective purchasers of qualified properties. A "bona fide prospective purchaser" is an entity that:
- Did not cause the contamination
- Has conducted an "all appropriate inquiry" assessment of environmental issues at the property
- Takes care to prevent the environmental problem from becoming worse
- Is willing to provide access to the property for cleanup purposes
- Does not disrupt any institutional controls or violate land-use restictions designed to manage the contamination and
- Has no affiliation with the party responsible for the contamination
For more information on the Environmental Protection Agency's (EPA) rule on all appropriate inquiry and bona fide prospective purchaser liability protection, see the EPA's Brownfields Liability Web page.
