Establishes a wildfire recovery fund and mechanism for compensating property damage from catastrophic wildfires.

The bill establishes a wildfire recovery fund to compensate property damage from catastrophic wildfires in Hawaii. It allows electric utilities to issue bonds to finance recovery costs and impose nonbypassable wildfire recovery charges on consumers. The Public Utilities Commission can order utilities to replenish the fund if they acted imprudently. Claimants can seek compensation through an administrative claims process or litigation. The fund can be replenished by utilities and refunded to customers if overfunded.

Establishes a wildfire recovery fund and mechanism for compensating property damage from catastrophic wildfires.

The bill establishes a wildfire recovery fund to compensate property damage from catastrophic wildfires in Hawaii. It allows electric utilities to issue bonds to finance recovery costs and impose nonbypassable wildfire recovery charges on consumers. The Public Utilities Commission can order utilities to replenish the fund if they acted imprudently. Claimants can seek compensation through an administrative claims process or litigation. The fund can be replenished by utilities and refunded to customers if overfunded.