The bill establishes a framework for wildfire mitigation plans that electric utilities in Wyoming must prepare and submit to the Public Service Commission. It outlines the required contents of these plans, which include descriptions of service territories at risk, inspection procedures, vegetation management strategies, and community outreach efforts. The commission is tasked with reviewing and approving these plans within 120 days, ensuring they are reasonable and in the public interest. Additionally, electric utilities must submit updated plans every five years and file annual compliance reports.

The bill also addresses liability and cost recovery related to wildfires. It creates a presumption that an approved wildfire mitigation plan is a reasonable measure against wildfire risk, allowing plaintiffs to recover economic losses only if they can demonstrate that the utility failed to comply with the plan or acted with malice. The legislation sets a four-year statute of limitations for civil actions against utilities for wildfire damages and limits the recovery of noneconomic losses unless there is bodily injury or death. The act is set to take effect on July 1, 2025, with certain provisions effective immediately upon the bill's passage.