115-26 Resolution Supporting the Polluters Pay to Make New Jersey More Affordable Act.pdf

WHEREAS, oil and gas lobbyists are urging Congress to give fossil fuel companies total legal immunity from any laws or lawsuits that could hold them accountable for their role in the climate crisis; and WHEREAS, in January of 2026, the American Petroleum Institute announced that killing state climate lawsuits is a top 2026 priority for the oil lobby, last year 16 Republican attorneys general proposed creating a “liability shield” for fossil fuel companies modeled on a 2005 law protecting gun manufacturers from lawsuits, and in February 2026 a house representative announced plans to introduce legislation seeking to stop climate lawsuits and superfund bills." WHEREAS, the Polluters Pay to Make New Jersey More Affordable Act seeks to hold "responsible parties," which is defined as fossil fuel extractors that conduct business in New Jersey and were responsible more than one billion metric tons of greenhouse gas emissions since 1995, liable for the costs of funding climate change adaptation and resilience projects instead of placing the burden on New Jersey taxpayers; and WHEREAS, the State Treasurer will be authorized under this Act to determine the cost impacts of these greenhouse gas emissions on the State, including effects on public health, natural resources, biodiversity, agriculture, economic development, flood preparedness and safety, housing, and any other effect that the State Treasurer determines is relevant; and WHEREAS, a Climate Adaptation, Resiliency, and Affordability Program will be established under this Act by the NJDEP to obtain compensatory payments from Responsible Parties and accept and collect payment from responsible parties and to disburse those funds for "climate change adaptation projects;" to project sponsors of climate change adaptation and resilience projects; and WHEREAS, "climate change adaptation projects" include, but are not limited to: flood protection projects; home buyouts; upgrades of stormwater drainage systems; defensive upgrades to roads, bridges, railroads, and transit systems; preparation for, and recovery from, extreme weather events; preventive health care programs and providing medical care to treat illness or injury caused by the effects of climate change; relocation, elevation, or retrofits of sewage treatment plants and other infrastructure vulnerable to flooding; installation of energy efficient cooling systems

aused by the effects of climate change; relocation, elevation, or retrofits of sewage treatment plants and other infrastructure vulnerable to flooding; installation of energy efficient cooling systems and other weatherization and energy efficiency upgrades and retrofits in public and private buildings, including schools and public housing, designed to reduce the public health effects of more frequent heat waves and forest fire smoke; upgrades to the electrical grid to increase stability and resilience, including the creation of self-sufficient microgrids; and response to toxic algae blooms, loss of agricultural topsoil, crop loss, and other climate-driven ecosystem threats to forests, farms, fisheries, and food systems; and WHEREAS, any municipality in need of climate change adaptation and resilience projects will be able to apply for the funds raised by the Act; and WHEREAS, the total funds to be recovered under this Act is expected to be $50 billion over 20 years WHEREAS, economists agree that the design of the Act would not cause costs to be passed along to consumers because 1) the payments would be based on past pollution and, therefore, not affect today's marginal cost of production; and 2) the price of fossil fuels is based on international market forces; and