SB514

Establishes a wildfire relief fund to provide compensation for property damage from catastrophic wildfires in Hawaii.

The bill establishes a wildfire relief fund to provide compensation for property damage resulting from catastrophic wildfires in Hawaii. It creates a wildfire relief fund corporation to administer the fund, which will receive contributions from various entities, including the State, electric utilities, other public utilities, other governmental entities, and private property owners. The fund will pay eligible claims for property damage from catastrophic wildfires, defined as those damaging or destroying more than 500 acres of land.