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Senate committee amends wildfire settlement bill to require defendants' payment plans and escrow
Summary
Senators amended House Bill 1001 to require defendants in the Maui wildfire settlement to submit evidence of ability to pay and to fund their shares into an escrow 30 days before installment payments; the committee passed the bill with those amendments after testimony from the governor's office and utility officials about financing plans.
The Senate committee on Intergovernmental Affairs passed House Bill 1001, HT1, SD1 on March 18 after adopting amendments meant to secure payment from private defendants in the proposed Maui wildfire settlement.
Why it matters: HB1001 funds the state's contribution to a proposed Maui Wildfire Settlement Trust Fund. Committee members said they were concerned about the mechanics for ensuring that other defendants — including utilities and private entities named in the settlement — actually have and will produce the funds they agreed to pay.
Testimony and financial questions: Will King of the Governor's Office testified in strong support of the bill, and Deputy Attorney General Lee Saffenu said the department filed supportive written comments. Scott Seay, president and CEO of HEEI, testified about Hawaiian Electric's plan to fund its portion of a multi-billion-dollar obligation using a mix of…
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