Prioritizes cleanup costs in fossil fuel company bankruptcies

Adds clear definitions including “fossil fuel company,” “executive officer,” and meanings for oil, gas, and coal so the new rules target oil, gas, and coal firms.

Treats accumulated and projected reclamation costs as necessary costs for secured property and authorizes recovery from collateral to fulfill all fossil fuel reclamation costs.

Reorders unsecured claim priority for fossil fuel debtors so non-executive employee wages are first, then reclamation costs (including environmental bond obligations and specific federal environmental laws), then unsecured claims, shareholders, and other listed claims.

Authorizes recovery of executive officers’ compensation for the five years before filing and makes private equity firms, parent companies, and hedge funds strictly jointly and severally liable if estate funds are insufficient.

Makes environmental bonds and accumulated/projected reclamation costs non-dischargeable debts in bankruptcy and prohibits abandoning fossil fuel assets as burdensome.