Bill > SB268

This bill, known as the Wildfire Recovery Act, aims to provide legal and financial relief for individuals and businesses affected by wildfires in New Mexico. The key provisions include: 1. Defining "person" and "wildfire" for the purposes of the Act. 2. Allowing individuals to recover the actual cost of restoring damaged property or the diminution in property value, as well as personal property replacement and restoration costs, evacuation expenses, lost rental income, and other economic losses. 3. Enabling individuals who evacuated due to a wildfire or suffered property damage to recover non-economic damages like emotional distress, even without physical injury. 4. Providing for the recovery of economic and non-economic damages by individuals who were personally injured or killed in a wildfire. 5. Entitling individuals who make wildfire damage claims to recover reasonable attorney fees and expenses, and exempting any recovered funds from state income tax. 6. Applying the provisions of the Act to actions taken on or after January 1, 2022.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=268&year=23