This section outlines the responsibilities of an administrator managing a fund related to electrical corporations. The administrator can hire experts needed for fund management, enter contracts, and invest the fund's money in certain securities.

They can also review claims, buy insurance, and cover costs using the fund's assets. Moreover, they are responsible for collecting dues from electrical corporations and conducting other necessary activities for effective fund management, all while being supervised by a council.

This law provides limited legal protection to certain individuals working in an official capacity, like counselors or administrators, from civil lawsuits and criminal charges for actions they take or don't take, as long as they act in good faith without trying to deceive anyone. Basically, if they're trying to do their job honestly, they can't be personally sued or held criminally responsible.

Additionally, the State of California isn't responsible for covering claims that exceed the funds available in this context. The state won't pay for any claims or costs related to this part unless it's explicitly stated elsewhere in the law.

This law requires the administrator to create an annual report detailing the operations and financial status of the Wildfire Fund and its account. The report should cover the fund and account assets, projections for their future sustainability, details on claims made and paid, a summary of key actions taken, and a plan for closing the fund if it is projected to run out of money within three years.

Additionally, once this report is approved by the council, it must be submitted to the relevant legislative committees by August 15 each year in accordance with specific government regulations.

This law establishes the Wildfire Fund, a financial resource not housed in the State Treasury, dedicated to supporting electrical corporations in covering claims from wildfires. The fund is continuously available, bypassing typical fiscal year limitations, and it can set up separate accounts. It's managed by an administrator under the council's guidance, based on rules starting at Section 3291. The fund will stay operational unless ended as outlined in Sections 3291 or 3292. Unused money can be deposited in approved banks or investment funds. A national bank handles the fund's securities. Claims are reviewed and approved by procedures set by the administrator, which ensure claims are addressed promptly, usually within 45 days of approval, unless it's impractical to do so.

This section outlines how a specific fund will be financed and maintained in California. Initially, the fund will receive a loan from the state's Surplus Money Investment Fund. Additionally, money from bonds related to the Water Code will also contribute and be kept in a separate account within the fund. Electrical corporations are required to make initial and annual contributions to the fund. Ratepayers of participating electrical corporations will also be charged, and this money will go into the fund. Finally, revenues from charges to large electrical corporations and proceeds from specific bonds will also be added to the fund.

This law allows the Director of Finance to review the council's and the administrator's financial records and documents whenever they want. This is to oversee how the fund is being handled and managed.

This California law outlines a financial process for transferring up to $10.5 billion to support certain purposes when specific sections are active. The Director of Finance, with input from the Treasurer and others, decides the amount and timing of the funds needed, then requests the Controller to transfer the money as a loan from investment funds. These loans must be repaid promptly using designated revenue sources, and interest is calculated quarterly based on specific rates. There's also a requirement to make an initial transfer of at least $2 billion in the 2019–20 fiscal year, and cash flow protections to prevent the General Fund's cash reserves from dropping too low.

This law requires California's utility regulator to start a process by July 26, 2019, to decide if electric companies should collect a charge from customers to support a specific fund. This charge helps cover the costs of certain financial obligations.

The charge amount varies based on the size of the electric company. For large companies, it matches a financial need determined elsewhere, while regional companies charge an extra half-cent per kilowatt-hour.

If it's deemed fair and justified, these charges will start after certain existing financial commitments end. The decision on this charge must be made within 90 days of starting the review process, and cannot be changed before 2036. Additionally, if Golden State Energy is included, its customers will also pay these charges.