Substitute House Bill No. 5156 establishes a Climate Change Superfund, to be administered by the Department of Energy and Environmental Protection (DEEP), effective October 1, 2026. The bill introduces a "climate superfund cost recovery program" that mandates responsible parties—entities that have significantly contributed to greenhouse gas emissions—to make compensatory payments based on strict liability. The program aims to generate revenue for climate adaptation projects, with at least 40% of expenditures directed towards environmental justice communities. The bill also includes new definitions for terms such as "covered greenhouse gas emissions" and "responsible party," while deleting any conflicting legal language.

Additionally, the bill outlines DEEP's responsibilities, including the issuance of cost recovery demands to responsible parties, the development of a climate change adaptation master plan, and the establishment of a public registry for responsible parties. It allows for installment payments of cost recovery demands and introduces provisions for interest on these payments. The bill appropriates $300,000 from the General Fund for the fiscal year ending June 30, 2027, to support the initiative, with a total estimated cost of approximately $1.88 million in FY 27 and $679,908 in FY 28 for program administration. Overall, the legislation aims to create a structured approach to funding climate resilience initiatives while holding major polluters accountable for their contributions to climate change.