OR SB1541

Establishes the Climate Superfund Cost Recovery Program to hold fossil fuel companies strictly liable for climate change costs, targeting entities responsible for more than one billion metric tons of greenhouse gas emissions globally during January 1, 1995 through December 31, 2024

Requires the Department of Land Conservation and Development to lead an interagency team and conduct a cost assessment analyzing climate impacts on public health, natural resources, agriculture, housing, and flood preparedness by January 1, 2029

Directs the Department of Environmental Quality to issue cost recovery demand notices to responsible parties, with payment options of full payment within six months or nine annual installments (20% initial payment, then 10% annually)

Creates the Climate Superfund Cost Recovery Program Account, with 30% of funds transferred to the Department of the State Fire Marshal for wildfire resilience and at least 40% required to benefit environmental justice communities

Appropriates $300,000 from the General Fund for the 2025-2027 biennium to implement the program, with rules required by January 1, 2029 and the act taking effect 91 days after the 2026 legislative session adjourns