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LA SB222
LA SB222Requires insurers to provide a minimum twenty percent discount to insureds participating in the Louisiana Fortify Homes Program. (gov sig)
summary
Introduced
04/04/2025
04/04/2025
In Committee
04/14/2025
04/14/2025
Crossed Over
Passed
Dead
06/12/2025
06/12/2025
Introduced Session
Potential new amendment
2025 Regular Session
Bill Summary
AN ACT To enact R.S. 22:1483.1(F), relative to the Louisiana Fortify Homes Program; to require insurers to provide premium discounts or rate reductions under certain building requirements; to provide for an effective date; and to provide for related matters.
AI Summary
This bill requires insurance companies in Louisiana to provide a minimum 20% premium discount or rate reduction to property owners who participate in the Louisiana Fortify Homes Program, starting no later than October 1, 2026. The bill specifically applies to owners of new residential or commercial properties that are built or located to withstand hurricane, tornado, or other catastrophic windstorm events in any parish within the state. In addition to the premium discount, insurers are allowed to offer other potential adjustments such as modified deductibles or credit rate differentials. These adjustments are designed to incentivize property owners to construct or relocate buildings with enhanced wind resistance, potentially reducing insurance claims and damage from severe weather events. The bill will become effective upon the governor's signature or through the standard legislative process outlined in the Louisiana Constitution.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Senate Committee on Insurance (09:30:00 5/14/2025 Room A-B) (on 05/14/2025)
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://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB222&sbi=y |
| Senate Committee Amendment #1677 INS Draft | https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1414418 |
| Analysis - Digest of SB222 Original | https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1404709 |
| BillText | https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1404708 |
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