SB 1541 – Establishes the Climate Superfund Cost Recovery Program as an interagency response to the effects of climate change.
Back again from the 2025 session is this illegal retroactive cost recovery that will make energy costs go up. A cap-and-trade program was implemented to mitigate greenhouse gas emissions costing some to buy credits. Now they want to double tax them by saying their credits weren’t any good.
SUBMIT TESTIMONY HERE by 2/7 at 1pm
The program holds fossil fuel companies strictly liable for climate change costs based on their proportionate share of greenhouse gas emissions from 1995-2024. Companies responsible for over 1 billion metric tons of covered emissions must pay their calculated share into the Climate Superfund Cost Recovery Program Account.
Fund Distribution
Money collected is distributed through three main channels
- Climate resilience projects (40%+ must benefit environmental justice communities) – The Department of Land Conservation and Development disperses funds for infrastructure adaptation, nature-based solutions, disaster preparedness, and public health protections
- Wildfire programs (30% of funds) – Transferred to the State Fire Marshal for wildfire resilience, recovery and mitigation activities
- Administrative costs – Covers program operation and enforcement.Responsible parties can either pay in full within 6 months or elect to pay 20% upfront followed by nine annual 10% installments, providing flexibility while ensuring steady revenue for climate adaptation project.