Warning
Info
Warning
Info
Simple English definitions for legal terms
Superfund
Read a random definition: prior publication
A quick definition of Superfund:
Superfund is a program that helps clean up places where dangerous waste has been dumped. The program is paid for by taxes on companies that make chemicals and oil. The money is used to clean up the waste until the people who caused the problem can pay for it themselves. Superfund was created by a law called the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA).
A more thorough explanation:
Definition: Superfund is a program that pays for the cleanup of hazardous-waste sites. It is funded by taxes on petroleum and chemicals, as well as a new tax on corporations. The program is created to pay for cleanup pending reimbursement from the liable parties.
Example: Let's say a company dumps hazardous waste on a piece of land. The Superfund program would pay for the cleanup of that land, and then the liable company would have to reimburse the program for the cost of the cleanup.
This program was established by the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA). This act holds responsible parties liable for the cost of cleaning up hazardous-waste sites.
Example: If a company is found to be responsible for dumping hazardous waste on a piece of land, they would be held liable for the cost of cleaning up that land under CERCLA.
Overall, Superfund is a program that helps to ensure that hazardous-waste sites are cleaned up and that the responsible parties are held accountable for the cost of the cleanup.