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H 384

DEPARTMENT OF INSURANCE – Amends and adds to existing law to establish the Wildfire Risk Mitigation Fund.

68th Legislature, 1st Regular Session (2025)

House Bill H 384 creates the Idaho Wildfire Risk Mitigation Fund, offering grants to homeowners for wildfire protection, stabilizing insurance costs in high-risk areas.

Reported Printed and Referred to Business
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Bill Summary · H 384

Summary of House Bill H 384: Idaho Wildfire Risk Mitigation Fund

Purpose and Intent

House Bill H 384 aims to address the increasing challenges faced by consumers in obtaining affordable property insurance due to the heightened risk of wildfires. The bill seeks to stabilize the insurance market in Idaho by establishing the Idaho Wildfire Risk Mitigation Fund, which will provide financial assistance to homeowners for mitigating wildfire risks.

Key Provisions

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

  1. Creation of the Wildfire Risk Mitigation Fund:

    • A new fund will be established in the state treasury to receive and manage funds aimed at reducing wildfire risks.
    • The fund will be continuously appropriated to support its objectives.

  2. Funding Sources:

    • The fund will be financed through:
      • Ongoing appropriations from premium taxes.
      • Excess stamping fees as recommended by the surplus line association.
      • Grants or contributions from private sectors aimed at fire prevention.

  3. Grant Distribution:

    • The fund will provide grants to homeowners for hardening their properties against wildfires, which may include matching programs and educational initiatives.
    • The director of the Department of Insurance will have the authority to set policies for grant distribution.

  4. Powers and Authority:

    • The director of the Department of Insurance will be empowered to create rules and procedures necessary for the fund's operation, including fiscal reporting and grant administration.

  5. Legislative Intent:

    • The bill emphasizes the need to assist homeowners in protecting their properties, thereby reducing overall insurance costs and enhancing the stability of the insurance market in wildfire-prone areas.

Impact

  • Homeowners and Property Owners: The primary beneficiaries of this fund will be homeowners in areas at risk of wildfires, who will receive financial assistance to improve their property’s resilience against fire damage.
  • Insurance Market: By providing support for property hardening, the bill aims to stabilize the insurance market, encouraging insurers to remain in or enter the Idaho market, thus improving access to affordable property insurance.
  • State Budget: The fiscal note indicates a minimal ongoing impact, with an estimated cost of $86,700 for a grant/contract officer position within the Department of Insurance. The implementation of the fund is expected to have a positive impact by reducing potential losses from wildfires.

Procedural Aspects

  • Introduced: March 7, 2025
  • Current Status: Reported printed and referred to the Business Committee on March 10, 2025.
  • Emergency Declaration: The bill includes a declaration of emergency, indicating its urgency in addressing wildfire risks.

This legislation represents a proactive approach to wildfire risk management in Idaho, aiming to protect both property and the stability of the insurance market.

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

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