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AB 1054 creates wildfire utility fund

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AB 1054 creates wildfire utility fund

AB 1054 creates wildfire utility fund

Utility companies could recover costs from the state after wildfires now that the governor has signed a new bill.


AB 1054 creates wildfire utility fund

Governor gavin newsom signed a law that would create a $21-billion dollar fund for wildfire victims. half of that money would come from customers - and the other half from utilities like pg&amp;e.

Action news now reporter spencer joseph is live now to break down what this new law means for you.

Yeah stephanie this is a big bill for the future of wild fire recovery... key word there... future... this was the scene friday morning as governor gavin newsome signed ab1054 into law&amp; the bill creating a 21 billion dollar wildfire fund that will help utility companies pay victims of wildfires caused by their equipment&amp; however the bill would only allow companies to recover costs from wildfires after january 1, 2019 while critics say this bill was rushed through and provides a bailout to these companies&amp; governor newsom praised it for its bi partisanship&amp; sot: i am incredlbly proud of the bi partisanship we had several people from the other side of the isle.

Pg&amp;e's equipment has been blamed for causing nearly 20 wildfires in the last two years.

Mainly the camp fire&amp; so what do residents like jessica brown think of this wildfire fund?

Sot: yes..

Because someone has to compensate them ab 1054 goes beyond just creating this fund&amp; it also increases saftey regulations on utillity companies..

Making sure that equipment is not a danger to those around it.

Sot: coming up at 6 we will talk about how this 21 billion dollar ammount will actually be funded...

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