Environment

SB 702 creates the "Climate Resiliency Fund" to finance projects addressing climate change impacts in Tennessee. It requires fossil fuel businesses (coal, oil, gas) operating between 1995 and 2025 to pay cost recovery fees based on their greenhouse gas emissions into the fund. The fund will support climate adaptation projects like flood protections, infrastructure upgrades, and healthcare programs, with priority given to communities designated as "environmental justice focus populations" (low-income, high-minority, or limited English proficiency areas). The bill defines specific eligible projects, including nature-based solutions, stormwater system improvements, and resilience planning for vulnerable infrastructure.