What does CERCLA stand for?

The correct answer is the Comprehensive Environmental Response, Compensation, and Liability Act. This federal law, enacted in 1980, focuses on the cleanup of sites contaminated with hazardous substances and pollutants. It establishes a framework for the cleanup of such sites and holds responsible parties liable for contamination, ensuring that they contribute to the costs associated with the cleanup.

The significance of this act lies in its role in promoting the restoration of contaminated land and protecting human health and the environment. It created the Superfund program, which allocates federal funds for the cleanup of the most hazardous waste sites.

Understanding this act is crucial for those involved in real estate and environmental regulation, as it impacts property transactions, particularly in cases where a property may be affected by contamination.