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California Assembly Passes $21B Wildfire Fund for Utilities
GreenTech Media: California lawmakers and Gov. Gavin Newsom have successfully shepherded a $21 billion wildfire bill through the waning days of the 2019 legislative session, offering the state's big investor-owned utilities a lifeline against following Pacific Gas & Electric into bankruptcy if they’re hit with multibillion-dollar wildfire liabilities this year.
On Thursday, the California Assembly passed AB 1054 by a 63-8 vote, following Monday’s 31-7 vote in the Senate. The bill now awaits Newsom's signature. Both houses cleared the two-thirds majority necessary for an “urgency bill,” that is, a law that will go into effect as soon as possible.
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