CHAPTER 4. The Continuation Account [3298. - 3298.6.]

Cal. Public Utilities Code - PUC 4.

in effect

Cal. Public Utilities Code - PUC § 3298. Section 3298.

(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.

Cal. Public Utilities Code - PUC § 3298.1. Section 3298.1.

The administrator shall carry out the duties of this part and may do all of the following, subject to the oversight of the council: (a) Retain, employ, or contract with officers, experts, employees, accountants, actuaries, financial professionals, and other executives, advisers, consultants, attorneys, and professionals as may be necessary in the administrator’s judgment for the efficient operation and administration of the account. (b) Enter into contracts and other obligations relating to the operation, management, and administration of the account. (c) Invest the moneys in the account in those securities eligible under Section 16430 of the Government Code. (d) Review and approve claims and settlements, and provide funds to large electrical corporations for the purposes of paying eligible claims. (e) Buy insurance or take other actions to maximize the claims-paying resources of the account. (f) Pay costs, expenses, and other obligations of the account from account assets. (g) Take any actions necessary to collect any amounts owing to the account from large electrical corporations. (h) Undertake other activities related to the operation, management, and administration of the account, as approved by the council.

Cal. Public Utilities Code - PUC § 3298.2. Section 3298.2.

There shall be a limited civil immunity, and no criminal liability in a private capacity, as a result of any act performed or omitted or obligation entered into in an official capacity, when done or omitted in good faith and without intent to defraud, on the part of the council, the administrator, or on the part of any officer, employee, or agent of the account. The State of California shall have no liability for payment of claims in excess of funds available pursuant to this part. The State of California, and any of the funds of the State of California, shall have no obligations whatsoever for payment of claims or costs arising from this part, except as specifically provided in this chapter.

Cal. Public Utilities Code - PUC § 3298.3. Section 3298.3.

Upon the determination by the administrator that additional annual contributions are necessary pursuant to Section 3299.1, the council shall direct the administrator to prepare and present for approval a plan of operations related to the operations, management, and administration of the account on an annual basis. At least annually, the council shall direct the administrator to present the plan of operations to the appropriate policy committees of the Legislature. The plan of operations shall include, but not be limited to, reporting on the account assets, projections for the durability of the account, the success of the account, whether or not the account is serving its purpose, and a plan for winding up the account if projections demonstrate that the account will be exhausted within the next three years.

Cal. Public Utilities Code - PUC § 3298.4. Section 3298.4.

The Director of Finance may, at any time, examine the books and records of the council and the administrator relating to the operation, management, and administration of the account.

Cal. Public Utilities Code - PUC § 3298.5. Section 3298.5.

(a) On January 1 of the year following the date on which the administrator determines that additional annual contributions are necessary pursuant to Section 3299.1, and annually thereafter, the council, with the assistance of the administrator, shall prepare and file with the Legislature and the Department of Finance reports regarding the formation, administration, and disposition of the account. (b) A report submitted to the Legislature pursuant to this section shall be submitted in compliance with Section 9795 of the Government Code.

Cal. Public Utilities Code - PUC § 3298.6. Section 3298.6.

This chapter shall become inoperative if a large electrical corporation elects not to participate pursuant to Section 3299 and is repealed on January 1 of the year following the notification by the commission pursuant to subdivision (c) of Section 3299.

Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026