Climate Change Adaptation and Mitigation - Total Assessed Cost of Greenhouse Gas Emissions - Study and Reports

HB 128 requires fossil fuel extraction and refining businesses to pay into a new state fund. Revenue from these payments will finance climate adaptation projects like coastal defenses, upgraded stormwater systems, and efforts to address health impacts on vulnerable communities. The fund is permanent and will support state climate action without new general taxes. This establishes a dedicated revenue stream for climate resilience efforts from the fossil fuel sector.