New York Governor Kathy Hochul has signed the Climate Change Superfund Act, allowing the state to collect $75 billion from fossil fuel companies for climate mitigation projects. The law imposes strict liability on major polluters, requiring those responsible for over 1 billion tons of emissions between 2000 and 2018 to contribute to the fund over 25 years. This move follows similar legislation in Vermont and is expected to inspire more such laws across the U.S. The act aims to address the financial burden of climate impacts, which exceed the fund's assessments, and has sparked debate over retroactive liability's effects on business and energy prices.