CT Legislature Reforms Archaic Environmental Law
October 2020–The Connecticut legislature in special session passed an amendment to the Connecticut Transfer Act, which will phase out the program to a release based program. The Transfer Act was put in place in the 1980’s as a way to clean up contaminated properties upon a sale or transfer of a property. Unfortunately over the years, the law morphed into a program that ensnared properties not contaminated or with minimal contamination and required overly burdensome reporting requirements and uncertainty that added significant costs to properties that were considered “Establishments” under the law and dissuaded investment in such properties.
The revised law greatly improves on the Transfer Act major problems in the short term until new regulations are put into place at which time, the Transfer Act will sunset. This is a welcome step to decrease transactions costs and spur economic development in Connecticut. The new law was a collaboration of many constituencies including LEP’s, real estate professionals, environmental groups and state agencies.
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