AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND CLIMATE SUPERFUND ACT OF 2025

HB 5424 establishes the Rhode Island Climate Superfund Act, requiring large fossil fuel companies that emitted over one billion tons of greenhouse gases between 1990 and 2024 to pay for climate adaptation work already done by the state and municipalities. The bill targets corporations that profited from fossil fuels, directing payments toward climate response efforts like coastal protection, infrastructure upgrades, and emergency planning. Funds collected will be deposited into a dedicated account and used exclusively for qualifying climate adaptation projects. The program mandates that companies pay their share based on emissions data within six months of a formal demand, with payment plans allowed only for very small amounts relative to their profits.