OR SB1553

Electric companies serving more than 25,000 retail customers are prohibited from recovering litigation costs, settlement expenses, judgments, and fines from ratepayers when found negligent or at fault for causing a wildfire

Electric companies found liable for wildfire damages must establish a qualified escrow fund with a financial institution holding at least $1 billion in assets, with the Public Utility Commission setting minimum fund amounts and controlling access to ensure judgment payments

Electric companies found liable for wildfire damages must also pay any federal income tax liability that plaintiffs or class members owe on their settlement or judgment amounts

60% of punitive damages awarded in wildfire cases against electric companies must be deposited into a new Wildfire Recovery Fund, with the first $50 million reserved for the Criminal Injuries Compensation Account

Appeals from wildfire-related civil actions against electric companies bypass the Court of Appeals and go directly to the Oregon Supreme Court; provisions apply to wildfires ignited between January 1, 2020 and January 1, 2025