Approved October 8, 2024

RESOLUTION OF THE GREATER UTICA CHAMBER OF COMMERCE OPPOSING THE ENACTMENT OF THE CLIMATE SUPERFUND BILL

WHEREAS, the Climate Leadership and Community Protection Act (Climate Act) was passed by both houses of the NYS Legislature and signed into law in July 2019; and

WHEREAS, at the end of the most recent legislative session in June 2024, the legislature passed the “Climate Superfund Bill” (S.2129-B/A.3351) which would impose a fee of $75 billion over the 24 years on major oil, natural gas, and coal producers for bringing fossil fuels to consumers who need to heat their homes and businesses, support manufacturing, and drive vehicles; and

WHEREAS, this bill would punish only select larger producers of this low-cost, fossil-based energy while ignoring the enormous benefits such energy sources provide in fueling our economy and providing a substantially higher quality of life for all New Yorkers; and

WHEREAS, the goal of this legislation is to eliminate fossil fuel energy while viable alternative sources are incapable of meeting current energy demands and the electric grid will not have the capacity to carry the electricity demand needed to replace fossil fuels; and

WHEREAS, this legislation will cripple the New York economy by restricting energy availability and unnecessarily, increase energy costs to exorbitant levels, drive businesses out of the state, and make New York severely disadvantaged when competing for economic development; and

WHEREAS, the so-called “Climate Super Fund” bill has yet to be taken under review by the Governor for enactment;

NOW THEREFORE BE IT RESOLVED that the Greater Utica Chamber of Commerce opposing the “Climate Superfund Bill” (S.2129-B/A.3351) and urges New York Governor Kathy Hochul to veto this piece of legislation..