This bill establishes a Climate Change Advisory Commission and creates a new federal fund to support infrastructure projects that help communities adapt to climate change impacts. The 11-member Commission, appointed by congressional leaders and the President, will develop guidelines and recommend projects focused on protecting energy, water, transportation, and other infrastructure from climate-related risks like flooding, extreme weather, and sea level rise. The bill creates a Climate Change Resiliency Fund financed through federal bonds (starting at $200 million annually, with potential to reach $1 billion per year), with proceeds distributed to eligible recipients including states, local governments, tribal nations, nonprofits, and utilities. At least 40 percent of funds must benefit low-income communities, communities of color, and other disproportionately affected areas, and the bill requires most recipients to provide matching funds, though the Secretary can waive this requirement for disadvantaged communities. All workers on funded projects must be paid prevailing wages under the Davis-Bacon Act, and the Commission will sunset 20 years after the law's enactment.
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