"Polluters Pay to Make New Jersey More Affordable Act"; imposes liability on certain fossil fuel companies for funds needed for climate change adaptation projects; establishes program in DEP to collect and distribute funds.*

The Climate Superfund Act would require fossil fuel companies that extracted or refined fossil fuels between 1995 and the bill's effective date to pay compensatory damages for climate change impacts they caused. Companies responsible for over one billion metric tons of greenhouse gas emissions during this period would pay based on their proportional share of emissions. The Department of Environmental Protection would collect these payments into a special fund and distribute them as grants for climate adaptation projects like flood protection, infrastructure upgrades, and health programs. Companies would have six months to pay in full or choose nine annual installments, with potential for administrative appeals if they disagree with the assessment.