Environmental
The National Environmental Policy Act (NEPA) requires federal agencies to:
AClean up all contaminated properties before approving development
BPrepare an Environmental Impact Statement (EIS) for major federal actions significantly affecting the environment✓ Correct
CRegulate all state and local environmental programs
DProvide environmental hazard insurance for federal properties
Explanation
NEPA requires federal agencies to prepare an Environmental Impact Statement (EIS) for major federal actions (such as federally funded highway projects, dam construction, or approval of large developments on federal land) that may significantly affect the environment. It is a procedural law requiring assessment, not cleanup.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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