HB07054: Enacted into law "RA11039" on June 29, 2018 | AN ACT INSTITUTIONALIZING THE ELECTRIC COOPERATIVES EMERGENCY AND RESILIENCY FUND AND APPROPRIATING FUNDS THEREFOR
This bill aims to institutionalize the Electric Cooperatives Emergency and Resiliency Fund to provide financial assistance to electric cooperatives adversely affected by fortuitous events or force majeure. It recognizes the importance of ensuring the continuous operation of electric cooperatives, especially during emergencies, to support rescue and relief operations and maintain the delivery of essential services.
The most beneficial provision is the streamlined process for the availment of the fund. This will help electric cooperatives quickly access the necessary resources to restore electric services, thereby facilitating rescue and relief operations and aiding in the recovery of affected communities.