MN HF3945

Creates the "Greenhouse Gas Pollution Superfund Act" establishing a cost-recovery program to collect payments from fossil fuel companies responsible for more than one billion metric tons of greenhouse gas emissions during the covered period of January 1, 1995 through December 31, 2026

Imposes strict liability on responsible parties (fossil fuel extractors and petroleum refiners) proportional to their share of covered emissions, with payment options of either full payment within six months or a nine-year installment plan starting at 20% followed by eight annual payments of 10%

Establishes a greenhouse gas pollution account in the environmental fund to receive payments and fund climate change adaptation projects, with at least 40% of disbursements required to benefit disadvantaged communities and environmental justice areas

Requires the state auditor to complete a climate cost assessment within two years evaluating impacts on public infrastructure, emergency response, public health, natural resources, agriculture, and housing, with updates every four years

Mandates prevailing wage requirements for all climate adaptation project construction contracts and requires biennial reporting to the legislature on payments received, projects funded, and benefits to disadvantaged communities beginning December 31, 2030