CA SB505

Establishes strict civil liability for firearm owners for property damage, bodily injury, or death resulting from use of their firearm, effective January 1, 2024, unless the firearm was reported to local law enforcement as lost or stolen before the incident.

Requires firearm owners to obtain and maintain homeowner's, renter's, or gun liability insurance that covers losses from negligent or accidental firearm use, including death, injury, or property damage.

Requires firearm owners to keep written evidence of insurance coverage at the location where the firearm is stored.

Directs the Insurance Commissioner to develop a standardized form of evidence of liability coverage by December 31, 2023.

Specifies that no state reimbursement is required for local agency or school district costs related to enforcement as the bill creates new criminal penalties.