Establishes the Illinois Climate Change Superfund to fund climate change adaptation projects.
The Climate Change Superfund Act creates the Illinois Climate Change Superfund, a special fund in the State treasury. The fund will be used to implement a climate change adaptation cost recovery program. Large fossil fuel producers will be required to pay into the fund based on their historic contributions to greenhouse gas emissions. At least 40% of the fund will be spent on projects benefiting disadvantaged communities. Qualifying expenditures include climate-resilient housing, water management infrastructure, and ecosystem restoration.
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