Bill > SB514

This bill establishes the Hawaii Wildfire Relief Fund and Hawaii Wildfire Relief Fund Corporation within the Department of Commerce and Consumer Affairs to address the increasing risk of catastrophic wildfires in Hawaii. The fund will provide compensation for property damage resulting from wildfires that destroy more than 500 residential or commercial structures. Key provisions include creating a mechanism for various entities like electric utilities, other public utilities, governmental entities, and large private landowners to contribute to the fund, with an initial capitalization process and potential ongoing annual contributions. The bill sets up a board of directors to oversee the fund and an administrator to manage its operations. Property owners can participate in the fund by default but can opt out if they have adequate insurance coverage. In the event of a catastrophic wildfire, property owners, property insurers, and governmental entities can submit claims for compensation, with the fund providing partial reimbursement for losses. The bill also includes provisions for investigating the cause of wildfires and potentially requiring reimbursement from utilities or other contributors found to have acted imprudently. Additionally, the bill limits legal actions against contributors and creates a structured process for fund management, including annual audits and potential refunds if the fund's balance exceeds certain thresholds. The fund aims to provide financial stability and support for communities affected by devastating wildfires while reducing potential litigation and economic disruption.

Government Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=514&year=2025