superfund

superfund
/sooh"peuhr fund'/, n. (sometimes cap.)
a large fund set up to finance an expensive program or project.
[1980-85; SUPER- + FUND]

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U.S. government fund intended to pay for the cleanup of hazardous-waste dump sites and spills.

The 1980 act creating it called for financing by a combination of general revenues and taxes on polluting industries. The Environmental Protection Agency was directed to create a list of the most dangerous sites; it would then compel the polluter to pay for the cleanup or would pay for the cleanup itself through the Superfund and sue for reimbursement. By the 1990s the Superfund had received billions of dollars, and work had begun on many sites. In response to widespread charges of waste, mismanagement, and inefficiency, the Superfund streamlined its procedures, and by the beginning of the 21st century cleanups at more than 750 sites had been completed. In the early 21st century, various proposals were introduced to alter the financing of the Superfund. See also Love Canal.

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Universalium. 2010.

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