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There is no cash available in this account and contributions aren't supposed to start until 2029, according to the Newsom administration. SB 492 allows the California Catastrophe Response Council to be exempted from the stateβs public meeting and public records laws when it comes to addressing either the administration or evaluation of individual claims submitted to the state's wildfire liability fund accounts. Further, increased costs of borrowing, driven by bondholder reactions or credit agency actions, will only exacerbate the affordability crisis for customers." Newsom's reaction to the utility liability plan below On Saturday, Newsom and Democrats in the State Senate and Assembly found common ground in setting other limits and restrictions . The bill shows state leaders are prepared to prohibit the CEOs and executives of investor-owned utilities from getting bonuses in the short-term if their company starts a wildfire that destroys at least 500 structures.
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