Disasters: data.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill requires the California Earthquake Authority (CEA) to provide its annual report to the Senate Insurance Committee and the Assembly Insurance Committee, and to post the report and a related financial examination on the CEA’s website. It also directs the CEA to include hazard mitigation projects in its recommendations to the working group tasked with identifying risk transfer market mechanisms for natural infrastructure, with a deadline of January 1, 2028. The bill aims to improve transparency and incentivize investment in climate resilience.
Key provisions
- Requires the CEA to provide its annual report to the Senate and Assembly Insurance Committees.
- Mandates posting of the annual report and financial examination on the CEA’s website.
- Directs the CEA to include hazard mitigation projects in its risk transfer recommendations.
- Sets a deadline of January 1, 2028, for the working group to incorporate hazard mitigation projects.
- Requires the CEA to submit concise written reports following major seismic events.
Who is affected
- California Earthquake Authority (CEA)
- Insurance Industry
- Legislature (Senate Insurance Committee, Assembly Insurance Committee)
- California Residents (indirectly, through increased resilience)
- Insurance Commissioners
Notable changes
- Adds a requirement for the CEA to provide its annual report to specific legislative committees.
Bill text
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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