DE HB368

Provides environmental cleanup liability protections for lenders who foreclose on properties containing aboveground storage tanks, allowing them to avoid "owner" liability if they meet specified conditions.

Defines "participate in management" to clarify that lenders holding security interests do not participate in management merely by monitoring compliance, inspecting tanks, requiring corrective actions, or standard lending practices such as enforcing loan terms.

Exempts fiduciaries (trustees, executors, administrators, etc.) from personal liability for environmental contamination at facilities they manage, with liability limited to assets held in fiduciary capacity.

Requires lenders to provide notice to the Department within 30 days of initiating foreclosure proceedings on any property containing an aboveground storage tank to maintain liability protection.

Requires the Department of Natural Resources and Environmental Control to file environmental liens with the Recorder of Deeds at least 30 days prior to the lien's effective date.