"Polluters Pay to Make New Jersey More Affordable Act"; imposes cost recovery payments on certain fossil fuel companies for funds needed for climate change adaptation; establishes program in DEP to collect and oversee distribution of funds.**
Reported with Assembly committee amendments Second Reading Assembly
Summary
The Climate Superfund Act would hold fossil‑fuel extractors and refiners that emitted more than one billion metric tons of greenhouse gases since 1995 liable for the state’s climate‑change damages. Those companies would be charged a cost‑recovery demand, with payments deposited into a new fund administered by the Department of Environmental Protection. The fund would finance projects such as flood protection, building retrofits, grid upgrades, and health‑care programs to help communities adapt to climate impacts.
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