Bill > S0326

This bill establishes the Rhode Island Climate Superfund Act, a comprehensive legislative effort to address climate change impacts by requiring fossil fuel companies to financially contribute to the state's climate adaptation and mitigation efforts. The act creates a cost recovery program administered by the Department of Environmental Management (DEM) that will target fossil fuel entities responsible for over one billion tons of greenhouse gas emissions between 1990 and 2024. The bill mandates that by January 1, 2026, the DEM will assess and report on the state's and municipalities' climate change response work costs since 2009, and then issue cost recovery demands to responsible parties proportional to their greenhouse gas emissions. Responsible parties will be strictly liable for their share of costs and must pay within six months, with provisions for potential installment plans and penalties for late payments. The legislation defines key terms like "climate change response work" broadly, including infrastructure upgrades, coastal protection, and adaptation projects. Importantly, the bill emphasizes that the costs of climate change mitigation have disproportionately fallen on taxpayers and argues that large fossil fuel corporations should now contribute to addressing the environmental and economic damages they have caused. The act also preserves other legal remedies and does not preempt existing environmental regulations, providing a flexible framework for holding major polluters accountable for their historical emissions.