Electrical corporations: wildfire mitigation plans.

Existing law requires electrical corporations to submit annually wildfire mitigation plans for review and approval by the Wildfire Safety Division. Existing law prohibits electrical corporations from diverting revenues authorized for the implementation of the plans to any activities or investments outside the plans. This bill would additionally prohibit electrical corporations from diverting revenue authorized for specified purposes in the plans to other activities or investments that are also authorized by the plans, if the diversion would cause the total amount of all such diversions to exceed 5% of the allocation approved for their plans, unless the commission authorizes that diversion. The bill would require electrical corporations to retain records of all diversions of revenues that are authorized for specified purposes in the plans to other activities or investments that are also authorized by the plans.