To suspend the enforcement of certain regulations relating to underground storage tanks, and for other purposes.

Prohibits the Environmental Protection Agency (EPA) from enforcing, during the 12-month period following the enactment of this Act, its underground petroleum storage tank financial responsibility regulations promulgated pursuant to the Solid Waste Disposal Act with respect to certain underground tank owners. Permits enforcement after such period if the Administrator of the EPA determines that such enforcement would not impose an unjust economic burden on the owners.

Requires the Administrator to conduct a study for the purpose of identifying the principal economic difficulties associated with compliance by underground tank owners with EPA technical standards for such tanks. Directs the Administrator to report the results of such study to specified congressional committees.

Amends the Solid Waste Disposal Act to: (1) delete the requirement that regulations under such Act include provisions for compensation of third parties for injury and property damage caused by accidental releases from underground storage tanks; and (2) reduce financial responsibility requirements for specified underground petroleum storage tanks.