Bill H.518 proposes the repeal of the State Climate Superfund Cost Recovery Program, which would eliminate the requirement for the Agency of Natural Resources to establish and implement this program. The bill also removes the obligation for the State Treasurer to assess the costs associated with greenhouse gas emissions during a specified period. As a result of this repeal, any state positions created for the program or for the completion of the assessment would be terminated.

Additionally, the bill mandates that any funds previously appropriated to the Agency of Natural Resources or the State Treasurer for the program's implementation or administration be returned to the General Fund or the original fund from which they were allocated. This legislative change reflects a significant shift in the state's approach to managing climate-related financial responsibilities.