The Rhode Island Climate Superfund Act of 2026 establishes a framework for addressing the impacts of climate change by creating a Rhode Island Climate Superfund. This Act directs the Department of Environmental Management (DEM) to assess and pursue cost recovery from responsible parties, specifically fossil fuel companies, for climate change response work. The Act includes provisions for the establishment of a climate superfund account to collect payments from these responsible parties.

The legislation introduces a new chapter in Title 42 of the General Laws, which includes definitions of key terms such as "climate change response work," "responsible party," and "covered greenhouse gas emissions." The Act outlines the responsibilities of the DEM, including identifying eligible climate change response projects, determining proportional liability of responsible parties based on their greenhouse gas emissions from January 1, 2000, to December 31, 2025, and issuing cost recovery demands.

The DEM is granted administrative authority to appoint necessary staff, adopt regulations, and coordinate with other state agencies, including the Attorney General and the Department of Health. The Act also mandates the DEM to report on climate change response work and corresponding expenditures within twelve months of its effective date.

Additionally, the Act specifies payment deadlines for responsible parties, allows for installment payments under certain conditions, and establishes penalties for late payments. It preserves the rights of local governments and individuals to pursue additional remedies under existing laws and clarifies that the Act does not preempt other state laws or local ordinances regarding greenhouse gas emissions.

The Act is designed to ensure that funds collected are used exclusively for qualified climate change response efforts, promoting accountability among fossil fuel producers. It takes effect upon passage.