SB 1123: Extreme Weather Relief Act; established.

Summary

Extreme Weather Relief Act established. Establishes the Extreme Weather Relief Program, administered by the Department of Conservation and Recreation, for the purpose of holding parties responsible for covered greenhouse gas emissions between the covered period of January 1, 1995, and December 31, 2024, for the parties' share of the Commonwealth's costs due to climate change. The bill defines responsible parties as fossil fuel extractors or crude oil refiners causing emissions of one billion metric tons or more of covered greenhouse gases during the covered period. Under the bill, responsible parties are strictly liable for cost recovery payments to the Commonwealth. The bill requires the State Treasurer to conduct an assessment of the costs to the Commonwealth and its residents of the emissions of covered greenhouse gases during the covered period. The bill establishes the Extreme Weather Relief Fund into which the cost recovery payments from responsible entities are deposited and used to pay for extreme weather relief projects, as defined in the bill.

Latest recorded action

Passed by indefinitely in Agriculture, Conservation and Natural Resources with letter (11-Y 2-N 1-A)

Jan 28, 2025

This is the latest action supplied by the source, not the full legislative history.

Track bills like this one

Mandate alerts you when a bill that matters to your organization moves, and explains what it means.