Relates to the climate change adaptation cost recovery program and requirements for climate change adaptive infrastructure projects

• Democratic1

◆ The sponsor's argument

Why Liz Krueger says this is needed

This legislation is a negotiated revision to the underlying chapter to make technical revisions to the administrative processes for determining responsible parties (fossil fuel companies with a payment obligation) and recovering amounts owed, provide additional detail on the adaptation plan, and add flexibility in the use of funds for adaptation projects. In particular, with regard to the cost recovery components of the program, the bill limits emissions analysis to extraction and refining data (rather than all emissions throughout the production and supply chains), extends the covered period from 2000-2018 to 2000-2024, provides additional guidance to DEC to develop its analysis, provides DEC additional time to promulgate regulations and issue cost recovery demands, imposes additional procedural requirements on the cost recovery administrative process, provides DEC additional flexibility in structur- ing payments, and strengthens consequences for nonpayment. In terms of the adaptation components of the program, this legislation provides agencies with additional time to develop the adaptation plan, refines the details that need to be included in the plan, and requires additional public engagement in plan development. The program evaluation must also contain additional detail. This chapter amendment also makes clear that all appropriations for adaptation projects are subject to legislative oversight, allows up to one percent of program receipts to be used for agencies' adaptation project administrative expenses, and permits limited transfers to other funds for adaptation project support.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.