An Act To Enact The Maine Climate Superfund Act

LD 1808, the Maine Climate Superfund Act, requires entities that extracted or refined fossil fuels (like coal, oil, or natural gas) during 2000-2024 to pay for climate adaptation projects through a new cost recovery program. It targets corporations and other organizations (defined as "entities") that owned fossil fuel businesses during that period, including those in a "controlled group" treated as a single entity. Funds collected will be used for specific climate adaptation projects, such as flood protections, infrastructure upgrades, health programs for climate-related illnesses, and nature-based solutions like restoring natural landscapes. The program establishes a "Climate Superfund Cost Recovery Program" to collect payments based on covered greenhouse gas emissions from fossil fuel use during the specified period.