House Bill 619 - Idaho Wildfire Risk Reinsurance and Mitigation Pool

• Creates an independent public body corporate called the Idaho Wildfire Risk Reinsurance and Mitigation Pool with two funds: one for reinsurance and one for fire prevention and mitigation efforts.

• Establishes a 14-member board of directors appointed by the insurance director (12 members including insurers, producers, consumers, forest products industry, and firefighters) plus one senator and one representative.

• Authorizes funding from premium tax revenues (one-fourth of premium tax exceeding $135 million annually), reinsurance premiums, cigarette ignition propensity fund allocations, and assessments on insurers proportional to their property insurance premiums earned.

• Requires the board to develop a plan of operation establishing reinsurance parameters, target areas, premium rates based on actuarial methodology, assessment procedures, and wildfire mitigation grant programs with the director's approval.

• Effective date: July 1, 2024; declares this an emergency measure.