AB 1554: Wildfire Fund.

Existing law establishes the Wildfire Fund, administered by the Wildfire Fund Administrator, and continuously appropriates moneys in the fund to pay eligible claims, as defined, against participating electrical corporations arising from wildfires ignited on or after July 12, 2019. Existing law requires the administrator, in consultation with the Public Utilities Commission, the Office of Energy Infrastructure Safety, the Department of Insurance, the Office of Emergency Services, and the Department of Forestry and Fire Protection, and with feedback solicited from stakeholders, to prepare and submit a report that evaluates and sets forth recommendations on new models or approaches that mitigate damage, accelerate recovery, and responsibly and equitably allocate the burdens from natural catastrophes, including catastrophic wildfires, earthquakes, and other natural disasters, across stakeholders, to complement or replace the fund.

This bill would state the intent of the Legislature to enact subsequent legislation to implement the recommendations set forth in the report.