Establishes a fee on companies that sell fossil fuels in Rhode Island and establishes a fund to disburse the collected funds.

Rhode Island Economic and Climate Resilience Act of 2026

This bill would create a new fee charged to companies that sell fossil fuels — such as oil, gas, and coal — in Rhode Island. Rather than charging individual consumers directly, the fee would be applied to the businesses that bring these fuels into the state for sale. The money collected from these fees would be placed into a dedicated fund specifically created by this legislation.

The funds collected would then be distributed back out through that fund, though the specific uses would likely focus on addressing climate-related impacts and supporting economic resilience for Rhode Islanders, as suggested by the bill's title. This type of structure is sometimes used to fund things like clean energy programs, infrastructure improvements, or assistance for residents affected by rising energy costs or climate-related events.

The bill would most directly affect fossil fuel companies operating in Rhode Island, who would be responsible for paying the new fee. However, it could also indirectly affect everyday residents and businesses, since energy companies may choose to pass some or all of those costs along to customers through higher prices for gasoline, heating oil, or natural gas. At the same time, residents could potentially benefit from programs funded by the money collected. The bill has been introduced and sent to the Senate Environment and Agriculture Committee, where it will be reviewed before any further action is taken.