SB 465 Summary

• Enacts the Wildfire Safety Finance Act, effective until January 1, 2029, allowing cities and counties designated as Very High Fire Hazard Severity Zones to finance wildfire safety improvements through voluntary property assessments similar to the existing PACE program.

• Defines "wildfire safety improvements" as permanent resilience and safety improvements to existing buildings identified by the Department of Forestry and Fire Protection, and authorizes property owners to purchase equipment directly and contract for installation with public agency consent.

• Extends existing PACE program protections and requirements to wildfire safety improvements, including three-day cancellation rights, financing estimate and disclosure forms, and oral confirmation by program administrators of key contract terms.

• Modifies the Mello-Roos Community Facilities Act to allow community facilities districts to finance wildfire safety improvements on both private and public property with owner consent.

• Requires program administrators to track and report on wildfire safety assessments by location and amount, consistent with existing PACE program reporting requirements, and makes property owner responsibility to verify insurance coverage of improvements.