Climate Resiliency Fund: Infrastructure Investment and Protection for Vulnerable Communities
This Act establishes the Climate Change Resiliency Fund to finance adaptation projects protecting infrastructure (transport, energy, water) and food/water supplies from climate change impacts. Citizens may experience improved public safety and infrastructure resilience, especially in communities most vulnerable to floods, droughts, or extreme weather events. Funding is secured through the sale of special federal obligations.
Key points
Establishment of the Climate Change Resiliency Fund to finance projects aimed at adapting to climate change impacts (e.g., enhancing infrastructure resilience, improving disaster response).
At least 40% of the Fund's resources must be allocated to projects benefiting communities disproportionately affected by climate change and pollution (e.g., low-income communities, communities of color).
Creation of the Climate Change Advisory Commission to set guidelines and priorities for investments, ensuring early and meaningful community stakeholder involvement.
The Fund is financed by issuing special Climate Change Obligations, with an annual aggregate face amount of $200 million (with an option to issue an additional $800 million).
All projects funded must comply with the Davis-Bacon Act, ensuring laborers and mechanics are paid prevailing local wages.
Introduced
Additional Information
Print number: 119_S_2374
Sponsor: Sen. Durbin, Richard J. [D-IL]
Process start date: 2025-07-22