Establishes the Catastrophic Wildfire Securitization Act to allow public utilities to securitize rates for wildfire costs.

The bill establishes the Catastrophic Wildfire Securitization Act, allowing public utilities to securitize rates to raise capital for costs and expenses arising from catastrophic wildfires. This includes developing wildfire risk mitigation plans, contributing to disaster relief funds, and funding litigation and settlements. The act enables public utilities to issue recovery bonds, which are nonrecourse to the utility's credit or assets, except for specified recovery property.

Establishes the Catastrophic Wildfire Securitization Act to allow public utilities to securitize rates for wildfire costs.

The bill establishes the Catastrophic Wildfire Securitization Act, allowing public utilities to securitize rates to raise capital for costs and expenses arising from catastrophic wildfires. This includes developing wildfire risk mitigation plans, contributing to disaster relief funds, and funding litigation and settlements. The act enables public utilities to issue recovery bonds, which are nonrecourse to the utility's credit or assets, except for specified recovery property.