Relating to a catastrophic wildfire fund; declaring an emergency.

Provides for an independent administrator to prepare and present a plan of operations. Provides for a process to recapitalize the fund as needed, as determined by an independent administrator. Provides for procedures if an independent administrator determines that the fund is depleted. Establishes a claims process. Limits the amount of property and noneconomic damages that may be recovered by a claimant from the fund. Directs the commission to investigate whether the actions and conduct of a public utility prior to the ignition of a catastrophic wildfire were prudent or imprudent. Allows the commission to require a public utility whose actions were imprudent to reimburse the fund in whole or in part. Allows a public utility, upon approval by the commission, to issue bonds and securitize debt for costs and expenses associated with contributions to the fund. Applies to wildfires that begin on or after the effective date of this Act. Declares an emergency, effective on passage.