Bill > SB1541

This bill establishes the Climate Superfund Cost Recovery Program, a statewide initiative to address the impacts of climate change by holding certain entities financially responsible for their contributions to greenhouse gas emissions. The program, led by the Department of Land Conservation and Development, will involve an interagency team that will assess the costs of climate change, including impacts on public health, natural resources, and infrastructure, from January 1, 1995, to December 31, 2024. Entities identified as "responsible parties" – those who owned a majority interest in a business extracting or refining fossil fuels and contributed over one billion metric tons of greenhouse gas emissions globally during the covered period – will be subject to cost recovery demands issued by the Department of Environmental Quality. Funds collected will be deposited into the Climate Superfund Cost Recovery Program Account and used for climate change resilience projects, such as nature-based solutions and infrastructure adaptation, with a specific focus on benefiting environmental justice communities and tribal nations. The bill also outlines procedures for appeals, payment plans, and audits of the program, and takes effect 91 days after the legislative session concludes.

Agriculture and Natural Resources, Budget and Finance

https://olis.oregonlegislature.gov/liz/2026R1/Measures/Overview/SB1541