"Climate Superfund Act"; imposes liability on certain fossil fuel companies for certain damages caused by climate change and establishes program in DEP to collect and distribute compensatory payments.

The "Climate Superfund Act" would hold fossil fuel companies liable for climate change damages by requiring them to pay compensatory payments based on their historical greenhouse gas emissions. It targets companies that extracted or refined fossil fuels and are responsible for over one billion metric tons of emissions between 1995 and the bill's effective date. The bill establishes a program through New Jersey's Department of Environmental Protection to collect these payments and distribute funds for climate adaptation projects, such as flood protection, infrastructure upgrades, and health programs. Companies would pay their proportional share of damages over nine years, with options for installment payments, and the collected funds would specifically support projects that help communities prepare for climate impacts.