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Bill

H 17

DEPARTMENT OF INSURANCE – Amends and adds to existing law to establish a wildfire risk mitigation and stabilization pool, fund, and board.

68th Legislature, 1st Regular Session (2025)

House Bill 17 creates a Wildfire Risk Mitigation Pool in Idaho, helping homeowners access affordable insurance and reduce wildfire risks through grants and support.

Reported Printed and Referred to Business
#funds #government #grants #insurance #property #security #taxandtaxation
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Bill Summary · H 17

Summary of House Bill 17: Idaho Wildfire Risk Mitigation and Stabilization Pool Act

Purpose and Intent

House Bill 17 aims to address the increasing challenges faced by consumers in obtaining affordable property insurance coverage due to the heightened risk of wildfires. The bill seeks to stabilize the property insurance market in Idaho by establishing a Wildfire Risk Mitigation and Stabilization Pool. This initiative is designed to assist homeowners in protecting their properties from wildfire risks, thereby reducing insurance costs and attracting insurers back to the market.

Key Provisions

The bill introduces several significant changes to existing law, specifically within Chapter 24 of Title 41 of the Idaho Code:

  1. Creation of the Wildfire Risk Mitigation and Stabilization Pool:

    • Establishes an independent public body tasked with receiving funding and distributing it to mitigate wildfire risks.
    • The pool will provide grants and matching programs to help homeowners harden their properties against wildfires.

  2. Establishment of a Fund:

    • A dedicated Wildfire Risk Mitigation and Stabilization Fund will be created in the state treasury to support the pool's activities.
    • The fund will consist of various sources of revenue, including assessments from participating insurers.

  3. Board of Directors:

    • A board consisting of twelve members will oversee the pool. Members will include representatives from the insurance industry, consumer interests, the forest products industry, and fire officials, as well as legislative appointees.
    • The board will be responsible for setting participation charges for insurers and developing a plan of operation for the pool.

  4. Definitions and Legislative Intent:

    • The bill includes definitions for key terms such as "target area," which refers to regions with elevated wildfire risks where insurance coverage is difficult to obtain.
    • It emphasizes the legislative intent to reduce community-level wildfire risks and promote a stable insurance marketplace.

  5. Immunity and Liability:

    • Provisions are included to ensure that the pool and its operations are free from taxation and provide certain immunities to board members and participating insurers.

Impact

  • Consumers: Homeowners in high-risk wildfire areas will benefit from improved access to property insurance and financial assistance for risk mitigation efforts.
  • Insurance Market: The bill aims to stabilize the insurance market by encouraging insurers to remain in or re-enter the Idaho property insurance market, ultimately leading to more competitive rates.
  • Economic Effects: The fiscal note indicates no negative fiscal impact on the state or local governments, with potential positive economic effects stemming from stabilized insurance rates and reduced property losses due to wildfires.

Procedural Aspects

  • Introduced: January 16, 2025
  • Current Status: Reported printed and referred to the Business Committee on January 17, 2025.
  • Emergency Clause: The bill includes a declaration of an emergency, indicating the urgency of its implementation.

This legislation represents a proactive approach to managing wildfire risks and ensuring that Idaho residents have access to affordable property insurance in the face of increasing environmental challenges.

Compiled from official sources — confirm details with the bill’s official record.

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