AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND CLIMATE SUPERFUND ACT OF 2026

SB 2024, the Rhode Island Climate Superfund Act of 2026, creates a fund to recover costs for climate adaptation projects from fossil fuel companies responsible for significant emissions. It targets companies that extracted or refined fossil fuels and caused over 1 billion tons of greenhouse gas emissions between 2000-2025, using a scientific method to calculate their proportional share. The law requires these companies to pay for "climate change response work" like coastal protection, flood infrastructure, heat mitigation, and ecosystem restoration projects already funded by taxpayers. The Department of Environmental Management will manage the fund and identify eligible projects, shifting costs from public budgets to polluters under a "polluter pays" principle.