NAC459.99939. Liability of certain bona fide prospective purchasers or innocent purchasers for response actions or cleanup of site.

     1. A person who, as a bona fide prospective purchaser or an innocent purchaser, is not liable for response actions or cleanup of a site pursuant to NRS 459.930 does not become liable for response actions or cleanup at the site solely because the person applied for or received financial assistance from the Fund.

     2. The Division may, pursuant to subsection 4 of NRS 459.930, seek to recover costs relating to a response action or cleanup that are incurred and unrecovered by the State of Nevada with respect to a brownfield site for which a subgrant has been made to a bona fide prospective purchaser of the brownfield site if:

     (a) The bona fide prospective purchaser intends to dispose of the property for private development upon completion of the environmental cleanup; and

     (b) The Division determines that the recovery of such costs is in the best interest of the continued operation of the Fund.

     3. All money recovered pursuant to subsection 2 must be deposited in the Fund.

     4. For the purposes of this section:

     (a) “Bona fide prospective purchaser” has the meaning ascribed to it in NRS 459.930.

     (b) “Innocent purchaser” has the meaning ascribed to it in NRS 459.930.

     (Added to NAC by Environmental Comm’n by R084-04, eff. 10-8-2004)