PROSPECTIVE PURCHASERS AND LESSEES.

SEC. 5. PROSPECTIVE PURCHASERS AND LESSEES. (a) Bona Fide Prospective Purchaser.—Section 101(40) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9601(40)) is amended— (1) in subparagraph (B)— (A) by redesignating clauses (i) through (iii) as subclauses (I) through (III), respectively, and indenting appropriately; (B) in subclause (I) (as so redesignated), by striking “clauses (ii) and (iii)” and inserting “subclauses (II) and (III)”; (C) in subclause (II) (as so redesignated), by striking “subparagraph” and inserting “clause”; and (D) in subclause (III) (as so redesignated), by striking “subparagraph” and inserting “clause”; (2) in subparagraph (D), by redesignating clauses (i) through (iii) as subclauses (I) through (III), respectively, and indenting appropriately; (3) in subparagraph (F), by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively, and indenting appropriately; (4) in subparagraph (H)— (A) in clause (i)— (i) in subclause (II), by inserting “, by a tenancy, by the instruments by which a leasehold interest in the facility is created,” after “financed”; and (ii) by redesignating subclauses (I) and (II) as items (aa) and (bb), respectively, and indenting appropriately; and (B) by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively, and indenting appropriately; (5) by redesignating subparagraphs (B) through (H) as clauses (ii) through (viii), respectively, and indenting appropriately; and (6) by striking the paragraph designation and heading and all that follows through “All disposal of” in subparagraph (A) and inserting the following: “(40) Bona fide prospective purchaser.— “(A) In general.—The term ‘bona fide prospective purchaser’ means, with respect to a facility— “(i) a person who— “(I) acquires ownership of the facility after January 11, 2002; and “(II) establishes by a preponderance of the evidence each of the criteria described in clauses (i) through (viii) of subparagraph (B); and “(ii) a person— “(I) who acquires a leasehold interest in the facility after January 11, 2002; “(II) who establishes by a preponderance of the evidence that the leasehold interest is not designed to avoid liability under this Act by any person; and “(III) with respect to whom any of the following conditions apply: “(aa) The owner of the facility that is subject to the leasehold interest is a person described in clause (i). “(bb)(AA) The owner of the facility that is subject to the leasehold interest was a person described in clause (i) at the time the leasehold interest was acquired, but can no longer establish by a preponderance of the evidence each of the criteria described in clauses (i) through (viii) of subparagraph (B) due to circumstances unrelated to any action of the person who holds the leasehold interest; and “(BB) the person who holds the leasehold interest establishes by a preponderance of the evidence each of the criteria described in clauses (i), (iii), (iv), (v), (vi), (vii), and (viii) of subparagraph (B). “(cc) The person who holds the leasehold interest establishes by a preponderance of the evidence each of the criteria described in clauses (i) through (viii) of subparagraph (B). “(B) Criteria.—The criteria described in this subparagraph are as follows: “(i) Disposal prior to acquisition.—All disposal of” . (b) Limitation on Liability.—Section 107(r)(1) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9607(r)(1)) is amended by striking “purchaser’s” and inserting “bona fide prospective purchaser”.