Establishes a wildfire recovery fund and administrative claims process for property damage from wildfires allegedly caused by utilities.
Hawaii HB982 establishes a wildfire recovery fund to provide compensation for property damage from wildfires allegedly caused by utilities. Investor-owned electric utilities must contribute $1 billion plus interest to the fund. The fund will be used to pay claims from property owners, insurers, and tenants. Claims can be submitted through an administrative process without proving negligence. The fund will be financed through bonds issued by utilities. The bonds will be repaid through a dedicated wildfire recovery charge on utility bills. The charge will be nonbypassable and cannot be avoided.
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