Bill > H0384

This bill establishes the Idaho Wildfire Risk Mitigation Fund, a new state treasury fund designed to help homeowners and property owners protect their properties against wildfire risks. The fund will be created to improve access to property insurance in high-risk areas, distribute funding for wildfire risk mitigation, and support grants, matching programs, and educational efforts related to fire prevention. The fund will be financed through multiple sources, including a portion of premium taxes (specifically, one-fourth of premium tax revenues exceeding $113 million), excess stamping fees recommended by the surplus line association, and potential grants or private sector contributions. The director of the Department of Insurance will have the authority to create rules, establish policies, appoint an advisory committee, and provide grants to citizens and communities for wildfire risk mitigation. The grants will be limited in amount to help the maximum number of citizens and may require matching funds. The bill aims to reduce property insurance costs, mitigate community-level wildfire risks, and help attract and retain insurers in the property marketplace. The fund will be tax-free and continuously appropriated to accomplish its goals, with the first implementation date set for July 1, 2025.

Business and Industry

Health and Welfare Committee (H)

https://legislature.idaho.gov/sessioninfo/2025/legislation/H0384/