LOU LEG Fortify Homes Program

On May 7, LOU LEG enacted bill to remove the program sunset date.

  • LOU LEG enacted Bill HB 120 to repeal Revised Statutes LOU INS 22:1483.1(F), which repeals termination date of the Louisiana Fortify Homes Program. to remove sunset.
  • Removed sunset date in order to demonstrate Louisiana’s long-term commitment to increasing resiliency by strengthening homes and businesses against future risks.
  • One of four property insurance reform bills, see #211314, #211348, and #211411.
  • LOU INS supported property insurance reform bills aimed at stabilizing the market.
  • Bill Provisions
  • Insurance commissioner authorized to make grants to retrofit roofs of properties with homestead exemption to resist loss due to catastrophes or to meet other standards.
  • Present law is retained, but repealed termination date which was set for Jun. 30, 2025.
  • Legislative History
  • On Feb. 23, 2024, bill introduced in House; on Mar. 26, 2024, bill was passed in House.
  • On Mar. 26, 2024, bill delivered to Senate; on Apr. 24, 2024, bill was signed in Senate.
  • On May 1, 2024, bill sent to governor; on May 7, 2024, bill was approved by governor.
  • On May 7, 2024, bill became Act 8, and will become effective on Aug. 1, 2024.
  • Effectiveness
  • Act No. 8 becomes effective as. of Aug. 1, 2024.

Regulators LOU LEG
Entity Types CNSM; Ins
Reference Act 8, Bill HB120, 5/7/2024; Citation: LOU INS 22:1483.1;
Functions Compliance; Financial; Legal; Product Administration
Countries United States of America
Products Insurance; Insurance-Property; Mortgage
Regions Am
Rule Type Final
Rule Date 5/7/2024
Effective Date 8/1/2024
Rule Id 211339
Linked to Rule :211411
Reg. Last Update 5/7/2024
Report Section US Insurance

Last substantive update on 05/12/2024