Wildfire Relief Fund: Compensation for Damages and Utility Rules
This act establishes a new fund to assist individuals and businesses affected by catastrophic wildfires. Citizens whose homes or businesses are damaged can claim compensation for losses, even if insured. The act also sets rules for electric utilities to prevent future fires.
Key points
Compensation for damaged homes and businesses: You can receive money for losses, even if insured, up to 25% of uninsured losses and up to 50% of insured losses (maximum $1 million).
Support for insurers and utilities: Insurers can receive up to 10% of their losses, and utilities up to 10% of their gross assets, if they comply with wildfire mitigation plans.
Insurance requirement: To qualify for compensation, the damaged structure must have been insured for at least 50% of its value.
No compensation for personal injuries: The fund does not cover claims for personal injuries or wrongful deaths.
Limited liability for utilities: Electric utilities that comply with wildfire mitigation plans have their liability for damages limited to 10% of their gross assets.
Expired
Additional Information
Print number: 118_HR_10523
Sponsor: Rep. Curtis, John R. [R-UT-3]
Process start date: 2024-12-19