MD HB128

Comptroller must conduct a study, in coordination with the Department of Commerce and Department of the Environment, to assess the total cost of greenhouse gas emissions in Maryland, with authority to hire a consultant

Report due to legislative committees by December 1, 2026, covering cost impacts on public health, natural resources, biodiversity, agriculture, economic development, flood preparedness, safety, and housing

Study must calculate both incurred costs and projected future costs to the State and residents to adapt to effects of greenhouse gas emissions during the "covered period" (March 21, 1994 through December 31, 2023)

Report must include an economic analysis of whether costs would be passed on to taxpayers if fossil fuel companies that emitted more than 1 billion tons of greenhouse gas emissions globally between 1995-2024 were required to compensate the State

Act takes effect July 1, 2025 (note: original bill language establishing a Climate Change Adaptation and Mitigation Payment Program to collect payments from fossil fuel companies was struck through via amendment, leaving only the study requirement)