The bill establishes the Idaho Wildfire Risk Mitigation Fund Act, which aims to assist homeowners and property owners in protecting their properties from wildfire risks. It introduces several new sections to Chapter 24, Title 41 of the Idaho Code, including Section 41-2402, which outlines the legislative intent and short title of the act; Section 41-2403, which creates the Wildfire Risk Mitigation Fund to receive and distribute funding for wildfire risk mitigation efforts; Section 41-2404, which grants the director of the Department of Insurance the authority to implement rules and policies for the fund; and Section 41-2405, which details the funding sources for the fund.

Additionally, the bill amends Section 41-406 to provide for a specific distribution of premium tax revenues to the newly established Wildfire Risk Mitigation Fund. The fund will be continuously appropriated to support its objectives, which include improving access to property insurance in high-risk areas and funding educational efforts related to wildfire prevention. The bill also declares an emergency, making it effective on July 1, 2025.

Statutes affected:
Bill Text: 41-406