Connecticut SB 453: AN ACT CONCERNING SAFE BOATING.

Bill Text

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General Assembly Substitute Bill No. 453
February Session, 2026

AN ACT CONCERNING A CLIMATE CHANGE RELATED SURCHARGE
ON CERTAIN INSURANCE POLICIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (NEW) (Effective October 1, 2026) (a) On and after January 1, 1
2027, any person that issues or renews any property or casualty 2
insurance policy in this state, including, but not limited to, any policy of 3
a captive insurance company, for any fossil fuel infrastructure that 4
facilitates or expands the processing, exporting or transporting of oil, 5
methane gas or coal, other than home fuel delivery vehicles, or any other 6
infrastructure related to such activities, including, but not limited to, 7
wells, pipelines, terminals, refineries or utility-scale generation facilities, 8
shall be assessed a five per cent surcharge for the issuance or renewal of 9
any such policy. Any such surcharge shall be transmitted to the 10
Insurance Commissioner for deposit by said commissioner into the 11
climate resilience account described in subsection (b) of this section. 12
(b) The Commissioner of Energy and Environmental Protection shall 13
establish an account to be known as the "climate resilience account". 14
Such account may receive any funds required to be deposited in such 15
account, including, but not limited to, any surcharge described in 16
subsection (a) of this section and any other funds, gift or donation 17
appropriated for or made to such account for the purposes described in 18
subsection (c) of this section. The funds in such account shall not lapse 19
at the end of any fiscal year and shall be available for the purposes 20

Substitute Bill No. 453

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described in subsection (c) of this section. 21
(c) The Insurance Commissioner shall ensure the deposit of any such 22
surcharge described in subsection (a) of this section to the climate 23
resilience account established by the Commissioner of Energy and 24
Environmental Protection. The Commissioner of Energy and 25
Environmental Protection shall prescribe the allocation of such funds for 26
the purpose of disseminating flood risk data to communities throughout 27
the state, establishing a public awareness effort in communities with a 28
high risk of such flooding and providing grants to such communities for 29
the construction or installation of climate-resilient infrastructure that is 30
designed to mitigate such risk of flooding in such communities. 31
This act shall take effect as follows and shall amend the following
sections:

Section 1 October 1, 2026 New section

ENV Joint Favorable Subst. -LCO
APP Joint Favorable