S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4123--B
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 9, 2023
                                ___________
 
 Introduced  by  M.  of  A.  GLICK, CUNNINGHAM, KELLES, LEVENBERG, SIMON,
   COLTON, PAULIN, SIMONE, K. BROWN, STECK -- read once and  referred  to
   the  Committee  on Environmental Conservation -- committee discharged,
   bill amended, ordered reprinted as amended  and  recommitted  to  said
   committee  --  recommitted to the Committee on Environmental Conserva-
   tion  in  accordance  with  Assembly  Rule  3,  sec.  2  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the  environmental  conservation  law,  in  relation  to
   climate  corporate data accountability; and to amend the state finance
   law, in relation to establishing the climate accountability and  emis-
   sions disclosure fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited  as  the  "climate
 corporate data accountability act".
   §  2.  The  environmental  conservation law is amended by adding a new
 article 74 to read as follows:
                                ARTICLE 74
                 CLIMATE CORPORATE DATA ACCOUNTABILITY ACT
 SECTION 74-0101. DEFINITIONS.
         74-0102. CLIMATE CORPORATE DATA ACCOUNTABILITY ACT.
 § 74-0101. DEFINITIONS.
   AS USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE  FOLLOWING
 MEANINGS:
   1.  "EMISSIONS  REPORTING  ORGANIZATION"  MEANS  A NONPROFIT EMISSIONS
 REPORTING ORGANIZATION CONTRACTED BY THE DEPARTMENT  PURSUANT  TO  PARA-
 GRAPH B OF SUBDIVISION TWO OF SECTION 74-0102 OF THIS ARTICLE THAT BOTH:
   A.  CURRENTLY  OPERATES A GREENHOUSE GAS EMISSIONS REPORTING ORGANIZA-
 TION FOR ORGANIZATIONS OPERATING IN THE UNITED STATES; AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03661-07-4
 A. 4123--B                          2
              

 
   B. HAS EXPERIENCE WITH GREENHOUSE GAS EMISSIONS DISCLOSURE BY ENTITIES
 OPERATING IN NEW YORK.
   2. "REPORTING ENTITY" MEANS:
   A.  A  PARTNERSHIP,  CORPORATION,  LIMITED LIABILITY COMPANY, OR OTHER
 BUSINESS ENTITY FORMED UNDER THE LAWS OF THIS STATE OR ANY OTHER  JURIS-
 DICTION THAT BOTH:
   I.  DOES BUSINESS IN THIS STATE AND IS DERIVING RECEIPTS FROM ACTIVITY
 IN THIS STATE WITHIN THE MEANING OF SECTION TWO HUNDRED NINE OF THE  TAX
 LAW; AND
   II. HAS TOTAL REVENUES IN EXCESS OF ONE BILLION DOLLARS IN THE PRECED-
 ING  FISCAL  YEAR, INCLUDING BUT NOT LIMITED TO REVENUES RECEIVED BY ALL
 OF THE BUSINESS ENTITY'S SUBSIDIARIES THAT DO BUSINESS IN THIS STATE.
   B. A FOREIGN ENTITY SHALL NOT BE CONSIDERED TO BE  DOING  BUSINESS  IN
 THIS STATE EXCLUSIVELY BY REASON OF CARRYING ON IN THIS STATE ANY OF THE
 ACTIVITIES  ENUMERATED IN SUBSECTION (B) OF SECTION THIRTEEN HUNDRED ONE
 OF THE BUSINESS CORPORATION LAW. IF A REPORTING ENTITY IS INCLUDED AS  A
 CONSOLIDATED  SUBSIDIARY  IN THE CONSOLIDATED FINANCIAL STATEMENTS OF AN
 ULTIMATE PARENT ENTITY, THEN SUCH ULTIMATE PARENT ENTITY  SHALL  BE  THE
 REPORTING ENTITY FOR PURPOSES OF THIS DEFINITION.
   3.  "SCOPE 1 EMISSIONS" MEANS ALL DIRECT GREENHOUSE GAS EMISSIONS THAT
 STEM FROM SOURCES THAT A REPORTING ENTITY  OWNS  OR  DIRECTLY  CONTROLS,
 REGARDLESS  OF  LOCATION, INCLUDING, BUT NOT LIMITED TO, FUEL COMBUSTION
 ACTIVITIES.
   4. "SCOPE 2 EMISSIONS" MEANS INDIRECT GREENHOUSE  GAS  EMISSIONS  FROM
 CONSUMED  ELECTRICITY,  STEAM, HEATING, OR COOLING PURCHASED OR ACQUIRED
 BY A REPORTING ENTITY, REGARDLESS OF LOCATION.
   5. "SCOPE 3 EMISSIONS" MEANS INDIRECT UPSTREAM AND  DOWNSTREAM  GREEN-
 HOUSE GAS EMISSIONS, OTHER THAN SCOPE 2 EMISSIONS, FROM SOURCES THAT THE
 REPORTING  ENTITY  DOES NOT OWN OR DIRECTLY CONTROL AND MAY INCLUDE, BUT
 ARE NOT LIMITED TO,  PURCHASED  GOODS  AND  SERVICES,  BUSINESS  TRAVEL,
 EMPLOYEE COMMUTES, AND PROCESSING AND USE OF SOLD PRODUCTS AND SERVICES.
   6.  "ASSURANCE  PROVIDER"  MEANS A FIRM OR ENTITY WHICH CARRIES OUT AN
 ASSURANCE ENGAGEMENT.
   7. "ASSURANCE ENGAGEMENT" MEANS AN ENGAGEMENT IN  WHICH  AN  ASSURANCE
 PROVIDER  EXPRESSES  AN  INDEPENDENT OPINION ON THE REPORTS ISSUED UNDER
 THIS SECTION, TO ENHANCE THE DEGREE  OF  CONFIDENCE  OF  THE  DEPARTMENT
 ABOUT THE INFORMATION DISCLOSED BY THE REPORTING ENTITY.
 § 74-0102. CLIMATE CORPORATE DATA ACCOUNTABILITY ACT.
   1.  A.  THE  DEPARTMENT SHALL ADOPT REGULATIONS TO REQUIRE A REPORTING
 ENTITY TO ANNUALLY DISCLOSE TO THE EMISSIONS REPORTING ORGANIZATION, AND
 TO OBTAIN AN ASSURANCE ENGAGEMENT PERFORMED BY AN INDEPENDENT THIRD-PAR-
 TY ASSURANCE PROVIDER ON, ALL OF THE REPORTING ENTITY'S  SCOPE  1  EMIS-
 SIONS, SCOPE 2 EMISSIONS, AND SCOPE 3 EMISSIONS. THE REGULATIONS ADOPTED
 PURSUANT TO THIS SUBDIVISION SHALL REQUIRE THAT:
   I.  (1) (A) STARTING IN TWO THOUSAND TWENTY-SIX AND ANNUALLY THEREAFT-
 ER, WITHIN ONE HUNDRED EIGHTY DAYS OF THE END  OF  ITS  FISCAL  YEAR,  A
 REPORTING  ENTITY  SHALL  PUBLICLY  DISCLOSE  TO THE EMISSIONS REPORTING
 ORGANIZATION ALL OF THE REPORTING ENTITY'S SCOPE 1 EMISSIONS AND SCOPE 2
 EMISSIONS FOR THE PRIOR FISCAL YEAR.
   (B) STARTING IN TWO THOUSAND  TWENTY-SEVEN  AND  ANNUALLY  THEREAFTER,
 WITHIN  THREE  HUNDRED  SIXTY-FIVE DAYS OF THE END OF ITS FISCAL YEAR, A
 REPORTING ENTITY SHALL PUBLICLY DISCLOSE ITS SCOPE 3  EMISSIONS  TO  THE
 EMISSIONS REPORTING ORGANIZATION FOR THE PRIOR FISCAL YEAR.
   (2)  IN  COMPLYING  WITH THE REQUIREMENTS OF THIS SECTION, A REPORTING
 ENTITY SHALL MEASURE AND REPORT ITS EMISSIONS  OF  GREENHOUSE  GASES  IN
 CONFORMANCE  WITH  THE  GREENHOUSE GAS PROTOCOL CORPORATE ACCOUNTING AND
 A. 4123--B                          3
 
 REPORTING STANDARD AND THE GREENHOUSE GAS PROTOCOL CORPORATE VALUE CHAIN
 (SCOPE 3) ACCOUNTING AND  REPORTING  STANDARD  DEVELOPED  BY  THE  WORLD
 RESOURCES  INSTITUTE  AND  THE  WORLD  BUSINESS  COUNCIL FOR SUSTAINABLE
 DEVELOPMENT,  INCLUDING GUIDANCE FOR SCOPE 3 EMISSIONS CALCULATIONS THAT
 DETAIL ACCEPTABLE USE  OF  BOTH  PRIMARY  AND  SECONDARY  DATA  SOURCES,
 INCLUDING THE USE OF INDUSTRY AVERAGE DATA, PROXY DATA, AND OTHER GENER-
 IC DATA IN ITS SCOPE 3 EMISSIONS CALCULATIONS.
   (3)  (A)  STARTING  IN  TWO THOUSAND THIRTY-THREE AND EVERY FIVE YEARS
 THEREAFTER, THE DEPARTMENT MAY SURVEY  AND  ASSESS  CURRENTLY  AVAILABLE
 GREENHOUSE  GAS ACCOUNTING AND REPORTING STANDARDS. AT THE CONCLUSION OF
 THIS ASSESSMENT THE DEPARTMENT MAY ADOPT A GLOBALLY RECOGNIZED  ALTERNA-
 TIVE  ACCOUNTING  AND  REPORTING STANDARD IF IT DETERMINES ITS USE WOULD
 MORE EFFECTIVELY FURTHER THE GOALS OF THIS SECTION. THIS REVIEW  PROCESS
 SHALL INCLUDE CONSULTATION WITH THE STAKEHOLDERS IDENTIFIED IN PARAGRAPH
 D OF THIS SUBDIVISION.
   (B)  IF  THE DEPARTMENT ADOPTS AN ALTERNATIVE ACCOUNTING AND REPORTING
 STANDARD, THE DEPARTMENT SHALL DEVELOP AND ADOPT NEW REGULATIONS, PURSU-
 ANT TO PARAGRAPH A OF THIS SUBDIVISION, TO ENSURE FULL CONFORMANCE  WITH
 THE NEW STANDARD AND REPORTING OF SCOPES 1, 2, AND 3 EMISSIONS AND OTHER
 REQUIREMENTS OF THIS SECTION.
   (4)  ON  OR  BEFORE JANUARY FIRST, TWO THOUSAND THIRTY, THE DEPARTMENT
 SHALL REVIEW, AND UPDATE AS NECESSARY, THE PUBLIC  DISCLOSURE  DEADLINES
 ESTABLISHED  PURSUANT  TO  CLAUSE  ONE  OF THIS SUBPARAGRAPH TO EVALUATE
 TRENDS IN SCOPE 3  EMISSIONS  REPORTING  AND  CONSIDER  CHANGES  TO  THE
 DISCLOSURE  DEADLINES TO ENSURE THAT SCOPE 3 EMISSIONS DATA IS DISCLOSED
 TO THE EMISSIONS REPORTING ORGANIZATION AS CLOSE IN TIME AS  PRACTICABLE
 TO THE DEADLINE FOR REPORTING ENTITIES TO DISCLOSE SCOPE 1 EMISSIONS AND
 SCOPE 2 EMISSIONS DATA.
   (5)  THE  REPORTING TIMELINES SHALL TAKE INTO ACCOUNT THE TIMELINES BY
 WHICH REPORTING ENTITIES TYPICALLY RECEIVE SCOPE 1, SCOPE 2, AND SCOPE 3
 EMISSIONS DATA, AS WELL AS THE CAPACITY  FOR  AN  INDEPENDENT  ASSURANCE
 ENGAGEMENT TO BE PERFORMED BY A THIRD-PARTY ASSURANCE PROVIDER.
   II.  A  REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL MAXIMIZE ACCESS FOR
 CONSUMERS,  INVESTORS,  AND  OTHER  STAKEHOLDERS  TO  COMPREHENSIVE  AND
 DETAILED GREENHOUSE GAS EMISSIONS DATA ACROSS SCOPE 1 EMISSIONS, SCOPE 2
 EMISSIONS AND SCOPE 3 EMISSIONS, AS DEFINED BY THIS SECTION, AND BE MADE
 IN A MANNER THAT IS EASILY UNDERSTANDABLE AND ACCESSIBLE.
   III.  A REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL INCLUDE THE NAME OF
 THE REPORTING ENTITY AND ANY  FICTITIOUS  NAMES,  TRADE  NAMES,  ASSUMED
 NAMES, SUBSIDIARIES AND LOGOS USED BY THE REPORTING ENTITY.
   IV.  A REPORTING ENTITY'S EMISSIONS REPORTING SHALL BE STRUCTURED IN A
 WAY THAT MINIMIZES DUPLICATION OF EFFORT AND ALLOWS A  REPORTING  ENTITY
 TO  SUBMIT  TO  THE EMISSIONS REPORTING ORGANIZATION REPORTS PREPARED TO
 MEET OTHER STATE, NATIONAL, AND  INTERNATIONAL  REPORTING  REQUIREMENTS,
 INCLUDING  ANY  REPORTS  REQUIRED  BY  THE  FEDERAL  GOVERNMENT OR OTHER
 STATES, AS LONG AS THOSE REPORTS SATISFY ALL OF THE REQUIREMENTS OF THIS
 SECTION.
   V. A REPORTING ENTITY'S DISCLOSURE SHALL TAKE  INTO  ACCOUNT  ACQUISI-
 TIONS,  DIVESTMENTS,  MERGERS,  AND  OTHER  STRUCTURAL  CHANGES THAT CAN
 AFFECT THE GREENHOUSE GAS EMISSIONS REPORTING, AND  IS  DISCLOSED  IN  A
 MANNER  CONSISTENT  WITH THE GREENHOUSE GAS PROTOCOL STANDARDS AND GUID-
 ANCE OR AN ALTERNATIVE STANDARD, IF ONE IS ADOPTED  AFTER  TWO  THOUSAND
 THIRTY-THREE.
   VI.  (1)  A  REPORTING  ENTITY  SHALL  OBTAIN AN ASSURANCE ENGAGEMENT,
 PERFORMED BY AN INDEPENDENT THIRD-PARTY  ASSURANCE  PROVIDER,  OF  THEIR
 PUBLIC DISCLOSURE.  THE REPORTING ENTITY SHALL ENSURE THAT A COPY OF THE
 A. 4123--B                          4
 
 COMPLETE  ASSURANCE  PROVIDER'S  REPORT  ON THE GREENHOUSE GAS EMISSIONS
 INVENTORY, INCLUDING THE NAME OF THE THIRD-PARTY ASSURANCE PROVIDER,  IS
 PROVIDED  TO  THE  EMISSIONS  REPORTING  ORGANIZATION  AS  PART OF OR IN
 CONNECTION WITH THE REPORTING ENTITY'S PUBLIC DISCLOSURE.
   (2)  THE  ASSURANCE ENGAGEMENT FOR SCOPE 1 EMISSIONS AND SCOPE 2 EMIS-
 SIONS SHALL BE PERFORMED AT A LIMITED ASSURANCE LEVEL BEGINNING  IN  TWO
 THOUSAND TWENTY-SIX AND AT A REASONABLE ASSURANCE LEVEL BEGINNING IN TWO
 THOUSAND THIRTY.
   (3) ON OR BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-SEVEN, THE DEPART-
 MENT  SHALL REVIEW AND EVALUATE TRENDS IN THIRD-PARTY ASSURANCE REQUIRE-
 MENTS FOR SCOPE 3 EMISSIONS, AND ON OR BEFORE SUCH DATE, THE  DEPARTMENT
 MAY ESTABLISH AN ASSURANCE REQUIREMENT FOR THIRD-PARTY ASSURANCE ENGAGE-
 MENTS  OF SCOPE 3 EMISSIONS. IF ANY SUCH REQUIREMENT IS ESTABLISHED, THE
 ASSURANCE ENGAGEMENT FOR SCOPE 3  EMISSIONS  SHALL  BE  PERFORMED  AT  A
 LIMITED ASSURANCE LEVEL BEGINNING IN TWO THOUSAND THIRTY.
   (4) A THIRD-PARTY ASSURANCE PROVIDER SHALL HAVE SIGNIFICANT EXPERIENCE
 IN  MEASURING,  ANALYZING,  REPORTING,  OR  ATTESTING TO THE EMISSION OF
 GREENHOUSE GASES AND SUFFICIENT COMPETENCE AND CAPABILITIES NECESSARY TO
 PERFORM ENGAGEMENTS IN ACCORDANCE WITH PROFESSIONAL STANDARDS AND APPLI-
 CABLE LEGAL AND REGULATORY REQUIREMENTS. THE ASSURANCE PROVIDER SHALL BE
 ABLE TO ISSUE REPORTS THAT ARE APPROPRIATE UNDER THE  CIRCUMSTANCES  AND
 INDEPENDENT WITH RESPECT TO THE REPORTING ENTITY, AND ANY OF THE REPORT-
 ING  ENTITY'S AFFILIATES FOR WHICH IT IS PROVIDING THE ASSURANCE REPORT.
 ON OR BEFORE JANUARY FIRST, TWO THOUSAND THIRTY,  THE  DEPARTMENT  SHALL
 REVIEW,  AND  UPDATE  AS  NECESSARY,  THE QUALIFICATIONS FOR THIRD-PARTY
 ASSURANCE PROVIDERS BASED ON AN EVALUATION OF TRENDS IN EDUCATION RELAT-
 ING TO THE EMISSION OF GREENHOUSE GASES AND THE QUALIFICATIONS OF THIRD-
 PARTY ASSURANCE PROVIDERS.
   (5) THE DEPARTMENT SHALL ENSURE THAT THE ASSURANCE  PROCESS  MINIMIZES
 THE  NEED  FOR REPORTING ENTITIES TO ENGAGE MULTIPLE ASSURANCE PROVIDERS
 AND ENSURES SUFFICIENT ASSURANCE PROVIDER CAPACITY, AS  WELL  AS  TIMELY
 REPORTING  IMPLEMENTATION AS REQUIRED UNDER CLAUSE ONE OF SUBPARAGRAPH I
 OF THIS PARAGRAPH.
   VII. (1) A REPORTING ENTITY UPON FILING ITS DISCLOSURE, SHALL  PAY  AN
 ANNUAL  FEE  TO THE DEPARTMENT FOR THE ADMINISTRATION AND IMPLEMENTATION
 OF THIS SECTION.
   (2) THE DEPARTMENT SHALL SET THE FEE ESTABLISHED  PURSUANT  TO  CLAUSE
 ONE  OF  THIS  SUBPARAGRAPH IN AN AMOUNT SUFFICIENT TO COVER THE DEPART-
 MENT'S FULL COSTS OF ADMINISTRATING AND IMPLEMENTING THIS SECTION.   THE
 TOTAL  AMOUNT OF FEES COLLECTED SHALL NOT EXCEED THE DEPARTMENT'S ACTUAL
 AND REASONABLE COSTS TO ADMINISTER AND IMPLEMENT THIS SECTION.
   (3) THE PROCEEDS OF THE FEES IMPOSED PURSUANT TO CLAUSE  ONE  OF  THIS
 SUBPARAGRAPH  SHALL BE DEPOSITED IN THE CLIMATE ACCOUNTABILITY AND EMIS-
 SIONS DISCLOSURE FUND ESTABLISHED BY SECTION NINETY-NINE-SS OF THE STATE
 FINANCE LAW.
   B. THE DEPARTMENT SHALL CREATE OR CONTRACT WITH AN EMISSIONS REPORTING
 ORGANIZATION TO DEVELOP A REPORTING PROGRAM TO RECEIVE AND MAKE PUBLICLY
 AVAILABLE DISCLOSURES REQUIRED  BY  THIS  SECTION.  EMISSIONS  REPORTING
 ORGANIZATIONS  SHALL  NOT BE AUTHORIZED TO PROVIDE SERVICES TO A COMPANY
 WHERE A CONFLICT OF  INTEREST  EXISTS.  A  CONFLICT  OF  INTEREST  SHALL
 INCLUDE:
   I.  THE  EMISSIONS REPORTING ORGANIZATION AND REPORTING ENTITY SHARING
 ANY MANAGEMENT STAFF OR BOARD OF DIRECTORS MEMBERSHIP,  OR  ANY  OF  THE
 SENIOR  MANAGEMENT STAFF OF THE REPORTING ENTITY HAVING BEEN EMPLOYED BY
 THE EMISSIONS REPORTING ORGANIZATION  OR  REPORTING  ENTITY  WITHIN  THE
 PREVIOUS FIVE YEARS.
 A. 4123--B                          5
 
   II.  ANY  EMPLOYEE  OF  THE  EMISSIONS  REPORTING ORGANIZATION, OR ANY
 EMPLOYEE OF A RELATED ENTITY, OR A SUBCONTRACTOR WHO IS A MEMBER OF  THE
 EMISSIONS  REPORTING  ORGANIZATION  HAVING PROVIDED THE REPORTING ENTITY
 WITH SERVICES RELATED TO THE AREAS OF EMISSIONS REPORTING  ORGANIZATION,
 OR  ANY  SERVICES DESIGNATED BY THE DEPARTMENT, WITHIN THE PREVIOUS FIVE
 YEARS.
   III. ANY STAFF MEMBER OF THE EMISSIONS REPORTING ORGANIZATION  PROVID-
 ING ANY TYPE OF NON-MONETARY INCENTIVE TO A REPORTING ENTITY TO SECURE A
 SERVICES CONTRACT.
   C.  THE  DEPARTMENT  MAY ADOPT OR UPDATE ANY OTHER REGULATIONS THAT IT
 DEEMS NECESSARY AND APPROPRIATE TO IMPLEMENT THIS SUBDIVISION.
   D. IN DEVELOPING THE REGULATIONS REQUIRED PURSUANT  TO  THIS  SUBDIVI-
 SION, THE DEPARTMENT SHALL CONSULT WITH ALL OF THE FOLLOWING:
   I. THE ATTORNEY GENERAL;
   II.  OTHER  GOVERNMENT  STAKEHOLDERS,  INCLUDING,  BUT NOT LIMITED TO,
 EXPERTS IN CLIMATE SCIENCE AND CORPORATE CARBON EMISSIONS ACCOUNTING AND
 REPORTING;
   III. INVESTORS;
   IV.  STAKEHOLDERS  REPRESENTING  CONSUMER  AND  ENVIRONMENTAL  JUSTICE
 INTERESTS; AND
   V.  REPORTING ENTITIES THAT HAVE DEMONSTRATED LEADERSHIP IN FULL-SCOPE
 GREENHOUSE GAS EMISSIONS ACCOUNTING AND PUBLIC DISCLOSURE AND GREENHOUSE
 GAS EMISSIONS REDUCTIONS.
   E. THIS SECTION DOES NOT REQUIRE ADDITIONAL REPORTING OF EMISSIONS  OF
 GREENHOUSE  GASES  BEYOND  THE  REPORTING  OF SCOPE 1 EMISSIONS, SCOPE 2
 EMISSIONS, AND SCOPE 3 EMISSIONS REQUIRED PURSUANT TO THE GREENHOUSE GAS
 PROTOCOL STANDARDS AND GUIDANCE OR AN ALTERNATIVE STANDARD,  IF  ONE  IS
 ADOPTED AFTER TWO THOUSAND THIRTY-THREE.
   2.  A. THE DEPARTMENT SHALL PREPARE A REPORT ON THE PUBLIC DISCLOSURES
 MADE BY REPORTING  ENTITIES  TO  THE  EMISSIONS  REPORTING  ORGANIZATION
 PURSUANT  TO SUBDIVISION ONE OF THIS SECTION AND THE REGULATIONS ADOPTED
 BY THE DEPARTMENT PURSUANT TO SUCH SUBDIVISION. IN PREPARING THE REPORT,
 CONSIDERATION SHALL BE GIVEN TO, AT A MINIMUM, GREENHOUSE GAS  EMISSIONS
 FROM REPORTING ENTITIES IN THE CONTEXT OF STATE GREENHOUSE GAS EMISSIONS
 REDUCTION  AND  CLIMATE  GOALS. THE DEPARTMENT SHALL ISSUE THE REPORT OF
 ITS FINDINGS TO THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY AND THE TEMPO-
 RARY PRESIDENT OF THE SENATE  AND  SHALL  PUBLISH  SUCH  REPORT  ON  ITS
 WEBSITE.
   B. THE EMISSIONS REPORTING ORGANIZATION SHALL MAKE THE REPORTING ENTI-
 TIES' DISCLOSURES PUBLICLY AVAILABLE ON THE DIGITAL PLATFORM REQUIRED TO
 BE  CREATED BY THE EMISSIONS REPORTING ORGANIZATION PURSUANT TO SUBDIVI-
 SION FOUR OF THIS SECTION.
   3. A. I. THE EMISSIONS  REPORTING  ORGANIZATION,  ON  OR  BEFORE  JULY
 FIRST,  TWO THOUSAND TWENTY-SIX PURSUANT TO CLAUSE ONE OF SUBPARAGRAPH I
 OF PARAGRAPH A OF SUBDIVISION  ONE  OF  THIS  SECTION,  SHALL  CREATE  A
 DIGITAL  PLATFORM,  WHICH  SHALL  BE ACCESSIBLE TO THE PUBLIC, THAT WILL
 FEATURE THE EMISSIONS DATA OF REPORTING ENTITIES IN CONFORMANCE WITH THE
 REGULATIONS ADOPTED BY THE DEPARTMENT PURSUANT  TO  SUBDIVISION  ONE  OF
 THIS  SECTION  AND  THE  REPORT  PREPARED FOR THE DEPARTMENT PURSUANT TO
 SUBDIVISION TWO OF THIS SECTION. THE  EMISSIONS  REPORTING  ORGANIZATION
 SHALL  MAKE  THE  REPORTING  ENTITIES'  DISCLOSURES AND THE DEPARTMENT'S
 REPORT AVAILABLE ON THE DIGITAL PLATFORM WITHIN THIRTY DAYS OF RECEIPT.
   II. THE DIGITAL PLATFORM SHALL  BE  CAPABLE  OF  FEATURING  INDIVIDUAL
 REPORTING  ENTITY DISCLOSURES, AND SHALL ALLOW CONSUMERS, INVESTORS, AND
 OTHER STAKEHOLDERS TO VIEW REPORTED DATA ELEMENTS AGGREGATED IN A VARIE-
 TY OF WAYS, INCLUDING MULTIYEAR DATA, IN A MANNER THAT IS EASILY  UNDER-
 A. 4123--B                          6

 STANDABLE  AND  ACCESSIBLE  TO RESIDENTS OF THE STATE. ALL DATA SETS AND
 CUSTOMIZED VIEWS SHALL BE AVAILABLE IN ELECTRONIC FORMAT FOR ACCESS  AND
 USE BY THE PUBLIC.
   B.  THE  EMISSIONS  REPORTING ORGANIZATION SHALL SUBMIT, WITHIN THIRTY
 DAYS OF RECEIPT, THE REPORT PREPARED FOR THE DEPARTMENT PURSUANT TO THIS
 SUBDIVISION TO THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF THE
 ASSEMBLY, AND THE GOVERNOR.
   4. A. THE ATTORNEY GENERAL MAY BRING A CIVIL ACTION AGAINST A  REPORT-
 ING ENTITY SEEKING CIVIL PENALTIES OF UP TO ONE HUNDRED THOUSAND DOLLARS
 PER  DAY  FOR  WILLFUL  FAILURE  TO COMPLY WITH THE REQUIREMENTS OF THIS
 SECTION OR REGULATIONS  SET  FORTH  BY  THE  DEPARTMENT,  INCLUDING  FOR
 NONFILING,  LATE  FILING,  OR  OTHER FAILURE TO MEET THE REQUIREMENTS OF
 THIS SECTION.  THE CIVIL PENALTIES IMPOSED ON  A  REPORTING  ENTITY  FOR
 SUCH  VIOLATIONS  SHALL  NOT  EXCEED  FIVE HUNDRED THOUSAND DOLLARS IN A
 REPORTING YEAR. IN SEEKING CIVIL  PENALTIES  FOR  A  VIOLATION  OF  THIS
 SECTION, THE ATTORNEY GENERAL SHALL CONSIDER ALL RELEVANT CIRCUMSTANCES,
 INCLUDING BOTH OF THE FOLLOWING:
   I. THE VIOLATOR'S PAST AND PRESENT COMPLIANCE WITH THIS SECTION; AND
   II.  WHETHER  THE VIOLATOR TOOK ANY GOOD FAITH MEASURES TO COMPLY WITH
 THIS SECTION AND WHEN THOSE MEASURES WERE TAKEN.
   B. A REPORTING ENTITY SHALL NOT BE SUBJECT TO  A  CIVIL  ACTION  UNDER
 THIS  SECTION  FOR  ANY  MISSTATEMENTS  WITH REGARD TO SCOPE 3 EMISSIONS
 DISCLOSURES MADE WITH A REASONABLE BASIS AND DISCLOSED IN GOOD FAITH.
   C. PENALTIES ASSESSED ON SCOPE 3 REPORTING, BETWEEN TWO THOUSAND TWEN-
 TY-SEVEN AND TWO THOUSAND THIRTY, SHALL ONLY OCCUR FOR NONFILING.
   5. THIS SECTION APPLIES TO THE STATE UNIVERSITY AND CITY UNIVERSITY OF
 NEW YORK ONLY TO THE EXTENT THAT THE REGENTS OF THE STATE UNIVERSITY  OR
 CITY  UNIVERSITY, BY RESOLUTION, MAKE ANY OF THESE PROVISIONS APPLICABLE
 TO THE UNIVERSITY.
   § 3. The state finance law is amended by adding a new section 99-ss to
 read as follows:
   § 99-SS. CLIMATE ACCOUNTABILITY  AND  EMISSIONS  DISCLOSURE  FUND.  1.
 THERE  IS  HEREBY  ESTABLISHED  IN  THE JOINT CUSTODY OF THE STATE COMP-
 TROLLER AND THE DEPARTMENT OF TAX AND FINANCE A SPECIAL FUND TO BE KNOWN
 AS THE "CLIMATE ACCOUNTABILITY AND EMISSIONS DISCLOSURE FUND". MONEYS IN
 THIS ACCOUNT SHALL BE KEPT SEPARATE AND  NOT COMMINGLED WITH  ANY  OTHER
 MONEYS IN THE CUSTODY OF THE COMPTROLLER.
   2.  SUCH FUND SHALL CONSIST OF ALL REVENUES RECEIVED BY THE DEPARTMENT
 OF TAXATION AND FINANCE, PURSUANT TO THE PROVISIONS OF  SECTION  75-0121
 OF  THE ENVIRONMENTAL CONSERVATION LAW, THE TAX LAW AND ALL OTHER MONEYS
 CREDITED OR TRANSFERRED THERETO FROM  ANY OTHER FUND OR SOURCE  PURSUANT
 TO  LAW.  NOTHING CONTAINED IN THIS SECTION SHALL PREVENT THE STATE FROM
 RECEIVING GRANTS, GIFTS OR BEQUESTS FOR THE  PURPOSES  OF  THE  FUND  AS
 DEFINED  IN  THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO
 LAW. ANY INTEREST RECEIVED BY THE COMPTROLLER   ON MONEYS    ON  DEPOSIT
 SHALL BE RETAINED AND BECOME PART OF THE FUND, UNLESS OTHERWISE DIRECTED
 BY LAW.
   §  4.  Severability.  If any clause, sentence, paragraph, subdivision,
 section or part of this act shall be adjudged by any court of  competent
 jurisdiction  to  be invalid, such judgment shall not affect, impair, or
 invalidate the remainder thereof, but shall be confined in its operation
 to the clause, sentence, paragraph, subdivision, section or part thereof
 directly involved in the controversy in which  such judgment shall  have
 been rendered. It is hereby declared to be the intent of the legislature
 that  this  act  would have been enacted even if such invalid provisions
 had not been included herein.
 A. 4123--B                          7
 
   § 5. This act shall take effect two years after it shall have become a
 law. Effective immediately, the addition, amendment and/or repeal of any
 rule or regulation necessary for the implementation of this act  on  its
 effective date are authorized to be made and completed on or before such
 effective date.