Wildfire resiliency: financial assistance.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill establishes the California Wildfire Resilience Loan Program, administered by the California Alternative Energy and Advanced Transportation Financing Authority. The program will provide financial assistance to property owners for wildfire resilience improvements like home hardening and defensible space, aiming to reduce wildfire-related losses and improve community resilience. It leverages the authority's experience in financing sustainable projects and encourages partnerships with various entities.
Key provisions
- Creates the California Wildfire Resilience Loan Program.
- Requires the California Alternative Energy and Advanced Transportation Financing Authority to administer the program.
- Provides financial assistance for home hardening, defensible space improvements, and smoke mitigation retrofits.
- Allows participation from public and private partners, including utilities, insurers, and the federal government.
- Establishes a loan loss reserve and potential credit enhancements.
- Defines eligible wildfire resilience improvements based on state guidance.
- Permits partnerships with state agencies, local governments, and community organizations.
- Authorizes the authority to create a public website for the program.
Who is affected
- Homeowners
- Businesses
- Insurance Companies
- Utilities
- State Government
Notable changes
Bill text
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