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Bill > HB70
MS HB70
MS HB70Property and casualty insurance; require blighted real property to be cleaned up before insurer pays insured certain damages.
summary
Introduced
01/10/2025
01/10/2025
In Committee
01/10/2025
01/10/2025
Crossed Over
Passed
Dead
02/04/2025
02/04/2025
Introduced Session
2025 Regular Session
Bill Summary
An Act To Require Property And Casualty Insurers To Require Blighted Real Property To Be Cleaned Up Before Paying More Than One-fourth Of The Damages Owed; To Require The Commissioner Of Insurance To Enforce The Provisions Of This Act And Adopt Any Rules Or Regulations Necessary; And For Related Purposes.
AI Summary
This bill requires property and casualty insurance companies operating in Mississippi to implement a new policy regarding blighted real property (properties that are deteriorated, abandoned, or in poor condition). Specifically, insurers can only reimburse an insured property owner for up to 25% of the total damages owed until the property owner has cleaned up the blighted property. The Commissioner of Insurance is tasked with enforcing this requirement and developing any necessary rules or regulations to implement the policy. The bill will go into effect on July 1, 2025, giving property owners and insurance companies time to prepare for the new requirement. The goal appears to be incentivizing property owners to maintain and improve properties that have fallen into disrepair, potentially helping to revitalize neighborhoods and prevent urban decay by making insurance reimbursement contingent on property cleanup.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Died In Committee (on 02/04/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0070.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2025/html/HB/0001-0099/HB0070IN.htm |
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