DEPARTMENT OF INSURANCE – Amends and adds to existing law to establish the Wildfire Risk Mitigation Fund.

Idaho bill H 384 establishes the Idaho Wildfire Risk Mitigation Fund within the state treasury to reduce wildfire risks for homeowners and improve property insurance access. The fund, created under Section 41-2403, is financed through specific portions of property insurance premium taxes (as amended in Section 41-406), excess stamping fees, and external grants. It will provide grants, matching programs, and educational resources to communities and homeowners for wildfire prevention and property protection, administered by the Department of Insurance under Section 41-2404. The legislation aims to lower insurance costs and stabilize the property insurance market in wildfire-prone areas.