CA AB1491

Amends Insurance Code Section 12975.9 to establish an indefinite funding mechanism for the Seismic Safety Commission by replacing premium-based assessments with a per-property-exposure fee model.

Sets annual assessment at a maximum of $0.15 per commercial and residential property exposure, calculated based on number of exposures, commission support costs, and department administrative costs.

Requires insurers to collect assessments from insureds and remit to the department, unless the insurer elects to pay the assessment on the insured's behalf.

Eliminates the July 1, 2012 expiration date that previously limited the Seismic Safety Account provisions, making the assessment authority permanent.

Declares the bill an urgency statute effective immediately to ensure continued seismic safety programs and earthquake preparedness guidance.