SACRAMENTO, Calif. (KRCA/CNN) – California’s governor signed a bill Friday that sets up a fund to pay eligible claims from wildfire damage.
Assembly Bill 1054 is a $26 billion plan that aims to deal with the state’s continuing wildfire threats.
Utility companies would each pay-in $5 billion to access up to $21 billion in the fund.
Advocates of the measure say for individual wildfire victims, this provides a more definite timeline to get reimbursed for losses. But some critics say this bill moves the burden of wildfire liability costs away from utilities.
The Wildfire Safety and Accountability Bill also extends a surcharge of $2.50 on customers’ utility bills for another 15 years.