Polluters Pay Climate Superfund Act of 2025.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Judiciary
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
The Polluters Pay Climate Superfund Act of 2025 aims to hold fossil fuel companies accountable for the damage caused by greenhouse gas emissions. It establishes a fund, the Polluters Pay Climate Superfund, to collect payments from these companies based on their historical emissions between 1990 and 2024. The state will conduct a climate cost study to quantify the total damage and determine how much each responsible party should pay, with the funds then used to support projects and programs addressing climate change impacts.
Key provisions
- Establishes the Polluters Pay Climate Superfund Program to collect payments from fossil fuel polluters.
- Defines ‘responsible party’ as entities with significant ownership or involvement in fossil fuel extraction or refining.
- Requires a climate cost study to quantify the total damage from greenhouse gas emissions.
- Mandates the agency to determine and assess a cost recovery demand for each responsible party.
- Requires responsible parties to pay their cost recovery demand and deposit it into the Polluters Pay Climate Superfund Fund.
- Funds will be used for projects and programs mitigating, adapting to, or responding to climate change impacts.
- Establishes a process for responsible parties to challenge their designation or cost recovery demand.
- Requires an initial assessment of implementation costs by the Director of Finance.
Who is affected
Bill text
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