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 help manage and compensate for property damage caused by catastrophic wildfires. The bill defines a catastrophic wildfire as one that damages or destroys more than 500 residential or commercial structures. The fund will be capitalized through contributions from the State, electric utilities, other public utilities, governmental entities, and large private property owners. Contributors and property owners who do not opt out can make claims for wildfire-related property damage, with the fund providing partial compensation based on insurance coverage and losses. The bill includes a comprehensive framework for fund management, including establishing a board of directors, an administrator, and a process for reviewing and approving claims. The fund also includes provisions for replenishment if depleted and limits legal actions against contributors. An annual actuarial study will assess the fund's capitalization, and the board must submit annual reports to the legislature and governor. The bill aims to provide a structured approach to managing wildfire-related financial risks and supporting property owners in the event of a catastrophic wildfire in Hawaii.

Government Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=514&year=2026