SCS/SB 388 - This act creates the Missouri Environmental Covenants Law, which allows environmental covenants to be created for real property that is or has been the subject of environmental remediation. The covenants are standardized voluntary agreements in which parties with an interest in the real property ensure that restrictions on site usage required by the remediation are maintained.
The act describes the information required in an environmental covenant, the powers and restrictions of an environmental covenant, and the process by which environmental covenants may be amended or terminated.
Environmental covenants must be recorded in the county in which the real property in located. The Department of Natural Resources is required to maintain a database of all environmental covenants in the state.
Certain aboveground and underground storage tanks are exempt from the provisions in the act.
This act is similar to HB 781 (2007) and SB 862 (2006).