Bill > LD1808

This bill establishes the Maine Climate Superfund Act, creating a program that requires certain fossil fuel companies to pay for climate change adaptation efforts based on their historical greenhouse gas emissions. Specifically, the bill requires entities that extracted fossil fuels or refined crude oil between 2000 and 2024 to pay a "cost recovery demand" if their products were responsible for over one billion metric tons of greenhouse gas emissions. These payments will be deposited into a special fund used to finance climate change adaptation projects across Maine, such as upgrading infrastructure, implementing flood protections, improving energy efficiency, and supporting vulnerable communities. The bill defines key terms like "climate change adaptation project" and "responsible party" and outlines a comprehensive process for determining each company's liability, including considering controlled corporate groups and minority interests. The Department of Environmental Protection will administer the program and develop a "resilience implementation strategy" to prioritize and guide climate adaptation efforts. Additionally, the Treasurer of State is required to produce a detailed report by January 2026 assessing the total costs of greenhouse gas emissions to the state. The bill aims to hold major fossil fuel producers financially accountable for their historical contributions to climate change while generating funds to help Maine communities adapt to its impacts.

Agriculture and Natural Resources

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1808&snum=132