Establishes a wildfire recovery fund for catastrophic wildfires in Hawaii.
This bill establishes a wildfire recovery fund for catastrophic wildfires in Hawaii. It creates a fund to compensate property owners, renters, businesses, and insurers for damage caused by wildfires allegedly caused by regulated utilities. The fund is financed through contributions from investor-owned electric utilities and electric cooperatives. The bill also allows for the securitization of wildfire recovery costs through the issuance of bonds. It provides an administrative claims process for claimants to receive compensation from the fund, while preserving their right to pursue litigation.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.