Bill
Bill > H0619
ID H0619
ID H0619Adds to existing law to establish provisions regarding the wildfire risk reinsurance and mitigation pool.
summary
Introduced
02/21/2024
02/21/2024
In Committee
02/22/2024
02/22/2024
Crossed Over
Passed
Dead
04/12/2024
04/12/2024
Introduced Session
2024 Regular Session
Bill Summary
RELATING TO THE IDAHO WILDFIRE RISK REINSURANCE AND MITIGATION POOL; AMENDING SECTION 41-406, IDAHO CODE, TO ESTABLISH PROVISIONS FOR DIS- BURSEMENTS TO THE IDAHO WILDFIRE RISK REINSURANCE AND MITIGATION POOL; AMENDING THE HEADING FOR CHAPTER 24, TITLE 41, IDAHO CODE; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2402, IDAHO CODE, TO DEFINE TERMS; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2403, IDAHO CODE, TO ESTABLISH PROVISIONS REGARDING THE WILDFIRE RISK REINSURANCE AND MIT- IGATION POOL AND TO PROVIDE FOR A BOARD OF DIRECTORS; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2404, IDAHO CODE, TO ESTABLISH PROVISIONS FOR THE PLAN OF OPERATION; AMENDING CHAP- TER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2405, IDAHO CODE, TO PROVIDE FOR POWERS AND AUTHORITY; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2406, IDAHO CODE, TO ESTABLISH PROVISIONS REGARDING REINSURANCE; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2407, IDAHO CODE, TO ESTABLISH PROVISIONS REGARDING REINSURANCE PREMIUM RATES; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2408, IDAHO CODE, TO ESTABLISH PROVISIONS REGARDING ASSESS- MENTS; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2409, IDAHO CODE, TO ESTABLISH PROVISIONS REGARDING CEDING ELIGIBILITY; AMENDING CHAPTER 24, TITLE 41, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 41-2410, IDAHO CODE, TO ESTABLISH PROVISIONS REGARDING FUNDING; AND DECLARING AN EMERGENCY AND PROVIDING AN EFFEC- TIVE DATE.
AI Summary
This bill establishes the Idaho Wildfire Risk Reinsurance and Mitigation Pool, an independent public body that will provide reinsurance to insurers to help them offer property coverage in high-risk wildfire areas, as well as fund wildfire prevention and mitigation efforts. The bill defines the pool's structure, board of directors, plan of operation, powers, reinsurance parameters, premium rates, assessment process, and funding sources, which include an ongoing appropriation of premium tax revenue. The goal is to improve access to property insurance and reduce wildfire risk in the state.
Committee Categories
Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
State Affairs Committee (House)
Last Action
Reported Printed and Referred to Business (on 02/22/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2024/legislation/H0619/ |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0619SOP.pdf |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0619.pdf |
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