Added by Stats. 2025, Ch. 119, Sec. 46. (SB 254) Effective September 19, 2025. Conditionally inoperative pursuant to Sections 3299 and 3299.20. Repealed as of January 1 following inoperative date.
(a)On or after the date the commission provides the notification pursuant to subdivision (b) of Section 3299, but not later than December 31, 2028, the administrator may determine if additional annual contributions pursuant to subdivision (b) of Section 3299.3 are required for either of the following reasons:
(1)Absent additional annual contributions, the administrator would provide a plan for winding up the fund pursuant to Section 3283.
(2)The administrator receives a notification from a large electrical corporation that it has a reasonable belief that it likely will have eligible claims for a single coverage year resulting from one or more covered wildfires.
(b)If the administrator determines that additional contributions are required, the administrator shall provide notification to the commission, the Department of Water Resources, and each large electrical corporation of its determination.
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Other sections in Chapter 5 - Operation of the Account