Establishes a climate change adaptation cost recovery program in New York.

The bill amends the environmental conservation law to establish a climate change adaptation cost recovery program. The program aims to secure compensatory payments from fossil fuel companies based on strict liability for their historic greenhouse gas emissions. These payments will fund climate change adaptive infrastructure projects. The bill also amends the state finance law to establish a climate change adaptation fund for these projects. The fund will receive moneys from cost recovery demands and issue funds for qualifying expenditures.

Establishes a climate change adaptation cost recovery program in New York.

The bill amends the environmental conservation law to establish a climate change adaptation cost recovery program. The program aims to secure compensatory payments from fossil fuel companies based on strict liability for their historic greenhouse gas emissions. These payments will fund climate change adaptive infrastructure projects. The bill also amends the state finance law to establish a climate change adaptation fund for these projects. The fund will receive moneys from cost recovery demands and issue funds for qualifying expenditures.