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Sponsor seeks one‑time assessment on largest fossil‑fuel emitters to fund Maryland climate damages
Summary
Delegate Delia Frazier Hidalgo asked the House Economic Matters Committee to grant a favorable report on House Bill 128, a one‑time assessment on very large fossil‑fuel emitters intended to fund a Maryland mitigation and recovery fund for climate damages.
Delegate Delia Frazier Hidalgo, sponsor of House Bill 128, told the House Economic Matters Committee on Jan. 23 that the bill would create a fund to cover damage from extreme weather and other climate impacts by assessing the largest fossil‑fuel companies for historic emissions. “The fossil fuel industry has known for over 40 years…that burning fossil fuels is the leading cause of greenhouse gas emissions,” Hidalgo said, adding the bill would require companies that emitted more than 1,000,000,000 tons of greenhouse gases since 1994 to pay a one‑time assessment.
The bill would direct proceeds into a mitigation fund for purposes Hidalgo and witnesses listed — stormwater management, sea‑level rise protections and…
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