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LA SB337

LA SB337
Provides for a premium discount for certain military personnel. (8/1/24)


summary

Introduced
03/01/2024
In Committee
04/24/2024
Crossed Over
03/21/2024
Passed
05/16/2024
Dead
Signed/Enacted/Adopted
05/23/2024

Introduced Session

Potential new amendment
2024 Regular Session

Bill Summary

AN ACT To amend and reenact R.S. 22:1482(A), (B), and (C)(1), relative to premium discounts on automobile insurance policies for military reservists; to provide for premium discounts; to require insurers to provide a premium discount on automobile insurance policies to military reservists; to provide insurers certain credit when offering a premium discount for military reservists; to provide for an effective date; and to provide for related matters.

AI Summary

This bill amends Louisiana law to require automobile insurance providers to offer a 25% premium discount on automobile liability insurance policies to active duty military, military reservists, Louisiana Air National Guard, and Louisiana Army National Guard personnel based in the state. The bill also entitles insurers providing this discount to a credit that can be applied towards their premium taxes, and requires the state insurance commissioner to adopt rules and regulations to implement the provisions of the bill. The bill also expands the discount eligibility to include retired military and veterans with a disability of 50% or more. The bill will become effective on January 1, 2025.

Committee Categories

Business and Industry

Sponsors (36)

Last Action

Effective date 1/1/2025. (on 05/23/2024)

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