Added by Stats. 2025, Ch. 119, Sec. 45. (SB 254) Effective September 19, 2025. Conditionally inoperative pursuant to Section 3298.6. Repealed as of January 1 following inoperative date.
(a)There is hereby created the Continuation Account in the Wildfire Fund, which is hereby continued in existence, which is administered by the administrator. Moneys and invested assets in the account are separate and distinct from any moneys in the fund and shall be allocated solely for purposes of Chapter 5 (commencing with Section 3299).
(b)All of the following revenues shall be deposited into the account:
(1)The annual contribution and any additional contribution from a large electrical corporation pursuant to Section 3299.3.
(2)Revenues generated from the ratepayers of each large electrical corporation through
a nonbypassable charge extended by the commission pursuant to Section 3299.2.
(3)Proceeds of bonds allocated to the account as provided in Section 80540 of the Water Code.
(c)Notwithstanding Section 13340 of the Government Code, the moneys in the account are continuously appropriated, without regard to fiscal years, to the administrator for purposes of Chapter 5 (commencing with Section 3299).
(d)(1) To the extent practicable, the administrator shall manage the account to prioritize the use of contributions from large electrical corporations before the use of contributions from ratepayers.
(2)The account shall terminate when the administrator determines that the resources are exhausted, taking into account the amount of any
unpaid liability, including necessary reserves, any unpaid annual contributions and additional contributions from large electrical corporations, and the nonbypassable charge authorized pursuant to Section 3299.2. Upon the determination of the administrator that the account shall be terminated, the administrator shall pay all remaining eligible claims and account expenses, and liquidate any remaining assets.