Allows a public utility to raise money for insurance costs through bonds.

This bill allows a public utility to issue bonds and securitize debt for costs and expenses related to a self-insurance or captive insurance program, subject to approval by the Public Utility Commission. The bill defines key terms such as "financing order," "financing party," and "rate recovery asset." It takes effect 91 days after the adjournment sine die of the legislative session.

Allows a public utility to raise money for insurance costs through bonds.

This bill allows a public utility to issue bonds and securitize debt for costs and expenses related to a self-insurance or captive insurance program, subject to approval by the Public Utility Commission. The bill defines key terms such as "financing order," "financing party," and "rate recovery asset." It takes effect 91 days after the adjournment sine die of the legislative session.