An act relating to climate change cost recovery

This bill modifies Vermont's climate change cost recovery program to allow the state to charge fossil fuel companies for climate adaptation costs without requiring them to be part of a specific support project. It changes how payment schedules work by requiring installments to be paid annually at 10% of the total amount, with interest charges and adjustments based on inflation. The law also extends the time companies have to respond to cost recovery notices from 15 to 30 days and clarifies that existing legal remedies remain available alongside this program. These changes take effect on July 1, 2024, but apply retroactively to costs incurred since January 1, 1995.