The Assembly Utilities and Energy Committee held an informational hearing Aug. 31 on SB 492, a wildfire-liability bill Sen. Becker cast as a survivor-centered follow-up to his earlier wildfire study work.
Becker told the committee the measure is intended to speed payments to wildfire survivors, preserve their right to sue, and limit hedge-fund and private-equity purchases of wildfire claims. He also said the bill would curb bonuses for utility executives when their equipment causes major fires.
The hearing also focused on how the proposal would work. Members asked about the bill’s fast-pay mechanics, survivor litigation rights, executive-compensation limits and the timing of the proposal late in session. Becker and supporters said the bill would require a Cal Fire-led data commons and align local wildfire protection plans with a statewide strategy.
TURN supported the measure, while labor and building-industry witnesses warned it could worsen affordability, borrowing costs, credit ratings and housing and infrastructure timelines. The committee did not take formal action on SB 492 during the hearing, and the available record does not show a vote or amendment.
The hearing ended before public comment when the chair cut it short to return to floor session, directing people to submit comments through the committee’s website.
