§ 599 — Climate Superfund Cost Recovery Program Fund

(a) There is created the Climate Superfund Cost Recovery Program Fund to be administered by the Secretary of Natural Resources to provide funding for climate change adaptation projects in the State. The Fund shall consist of:
(1) cost recovery payments distributed to the Fund under section 598 of this title;
(2) monies from time to time appropriated to the Fund by the General Assembly; and
(3) other gifts, donations, or other monies received from any source, public or private, dedicated for deposit into the Fund and approved by the Secretary of Administration.
(b) The Fund may be used only:
(1) to pay:
(A) qualified expenditures for climate change adaptation projects identified by the Agency in the Strategy; and
(B) reasonable administrative expenses of the Program, including the cost to the State Auditor associated with hiring technical expertise necessary to complete the audits required under section 599b of this title;
(2) to implement climate adaptation action identified in the State Hazard Mitigation Plan; and
(3) to implement the Community Resilience and Disaster Mitigation Grant Program established pursuant to 20 V.S.A. §§ 48 and 49.
(c) Notwithstanding any contrary provisions of 32 V.S.A. chapter 7, subchapter 5, unexpended balances and interest earned by the Fund shall be retained in the Fund from year to year. (Added 2023, No. 122 (Adj. Sess.), § 2, eff. July 1, 2024.)