Los Angeles

City Council

May 21, 2024 Item #2

Agenda Item 2

(2) 23­0002­S121 RULES, ELECTIONS AND INTERGOVERNMENTAL RELATIONS COMMITTEE REPORT and RESOLUTION relative to including in the City's 2023­24 State Legislative Program support for legislation and/or administrative action which would ensure that homeowners in areas of the Tuesday State threatened- May 21, 2024 by wildfires - obtain adequate homeowner’s can PAGE 5insurance Items for which Public Hearings Have Been Held (2) 23­0002­S121 RULES, ELECTIONS AND INTERGOVERNMENTAL RELATIONS COMMITTEE REPORT and RESOLUTION relative to including in the City's 2023­24 State Legislative Program support for legislation and/or administrative action which would ensure that homeowners in areas of the State threatened by wildfires can obtain adequate homeowner’s insurance without relying on the California Fair Access to Insurance Requirements (FAIR) plan. Recommendation for Council action, pursuant to Resolution (Rodriguez ­ Raman), SUBJECT TO THE CONCURRENCE OF THE MAYOR: RESOLVE to include in the City's 2023­24 State Legislative Program SUPPORT for legislation and/or administrative action which would ensure that homeowners in areas of the State threatened by wildfires can obtain adequate homeowner’s insurance without relying on the California FAIR plan, including potential legislation to create an entity to provide fire insurance for California residents modeled after the California Earthquake Authority. Fiscal Impact Statement: Neither the City Administrative Officer nor the Chief Legislative Analyst has completed a financial analysis of this report.