This bill proposes to exempt local government entities from annual remediation fees under specific circumstances related to the acquisition of real property. It stipulates that if a local government entity acquires ownership through methods such as bankruptcy, tax delinquency, abandonment, escheat, eminent domain, or condemnation, or for the purpose of promoting redevelopment, they will not be subject to these fees imposed by the Department of Environmental Protection. This exemption applies to any discharges that occurred prior to the government entity's ownership of the property.

Currently, local government entities are already exempt from joint and several liability for discharges that occurred before their ownership. The new legislation builds on this by extending the exemption to include annual remediation fees, thereby alleviating financial burdens on local governments that are working to redevelop contaminated properties. The bill is set to take effect immediately upon enactment.