OR SB926

Electric companies serving more than 25,000 retail customers are prohibited from recovering wildfire-related costs from ratepayers when a court or jury finds the company was negligent, including judgments, settlements, litigation costs, and property repair expenses

Electric companies with outstanding wildfire judgments based on negligence findings are banned from paying dividends, distributing profits, or repurchasing stock to owners until the debt is paid

Interest on wildfire negligence judgments accrues at 9% per annum from the date the wildfire was ignited, and damage awards cannot be offset by money the plaintiff received from other sources

Electric companies that fail to satisfy wildfire negligence judgments by January 1, 2026 become liable for all taxes owed by the prevailing party on the judgment

Provisions apply retroactively to wildfires ignited on or after January 1, 2020, with the tax liability section applying to judgments issued between January 1, 2020 and January 1, 2025