SLS 15RS-216 ORIGINAL
2015 Regular Session
SENATE BILL NO. 251
BY SENATOR HEITMEIER
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING. Requires that unclaimed Louisiana Citizens Property Insurance
Corporation assessments be returned to homeowners by the Department of Insurance.
(1/1/16)
1 AN ACT
2 To enact R.S. 22:2317.1 and R.S. 47:6025(D), relative to Louisiana Citizens Property
3 Insurance; to provide for the refund of certain assessments; to provide for the sunset
4 of certain tax credits through the Department of Revenue; to provide for an effective
5 date; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 22:2317.1 is hereby enacted to read as follows:
8 §2317.1. Louisiana Citizens Property Insurance Corporation; refund of certain
9 assessments; Department of Insurance
10 A. Notwithstanding any other provision of law to the contrary and
11 beginning January 1, 2016, and each year thereafter, the Department of
12 Insurance shall refund any homeowner his Louisiana Citizens Insurance
13 Corporation assessment for the prior year, but only in the event that the
14 department has sufficient documentation of the homeowner's annual renewal
15 of a property insurance policy as required by R.S. 22:2317.
16 B. The Department of Insurance shall promulgate rules in accordance
17 with the Administrative Procedure Act in order to carry out the provisions of
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 251
SLS 15RS-216 ORIGINAL
1 this Section which shall be reviewed and approved by the insurance committees
2 of the Senate and House of Representatives.
3 C. On a quarterly basis, the department shall submit a report to the
4 Senate Committee on Insurance and the House Committee on Insurance on the
5 status of the refund program. Additionally, the department shall report to the
6 committees on the closeout of the tax credit program administered by the
7 Department of Revenue.
8 Section 2. R.S. 47:6025(D) is hereby enacted to read as follows:
9 §6025. Tax credit for Louisiana Citizens Property Insurance Corporation assessment
10 * * *
11 D. Notwithstanding any other provision of law to the contrary and in
12 accordance with the provisions of R.S. 22:2317.1, on January 1, 2016, tax credits
13 for Louisiana Citizens Property Insurance Corporation assessments shall be
14 processed as follows:
15 (1) For taxable years 2012, 2013, and 2014, taxpayers who have not
16 previously claimed their tax credits for the refund of their Louisiana Citizens
17 Property Insurance assessment shall have until December 31, 2016, to apply for
18 the tax credits or other reimbursements for the prior year's assessments which
19 have not been previously claimed.
20 (2) For taxable periods for 2015 and thereafter, refunds of assessments
21 shall be remitted to eligible homeowners by the Department of Insurance under
22 the provisions of R.S. 22:2317.1, and the provisions of this Section relative to the
23 tax credit for the Louisiana Citizens Property Insurance Corporation
24 assessment for 2015 and all subsequent years shall be null, void, and of no effect
25 on January 1, 2016.
26 Section 3. This Act shall become effective on January 1, 2016; if vetoed by the
27 governor and subsequently approved by the legislature, this Act shall become effective on
28 January 1, 2016, or on the day following such approval by the legislature, whichever is later.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 251
SLS 15RS-216 ORIGINAL
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Jay R. Lueckel.
DIGEST
SB 251 Original 2015 Regular Session Heitmeier
Proposed law provides that notwithstanding any other provision of law to the contrary and
beginning January 1, 2016, and each year thereafter, the Department of Insurance shall
refund any homeowner his Louisiana Citizens Insurance Corporation assessment for the
prior year, but only in the event that the department has sufficient documentation of the
homeowner's annual renewal of a property insurance policy.
Proposed law requires the department to promulgate rules in accordance with the
Administrative Procedure Act in order to carry out these provisions which shall be reviewed
and approved by the oversight committees.
Proposed law provides that on a quarterly basis, the department shall submit a report to the
Senate Committee on Insurance and the House Committee on Insurance on the status of the
refund program. Additionally, the department shall report to the committees on the closeout
of the tax credit program administered by the Department of Revenue.
Present law provides for a tax credit for certain persons for the Louisiana Citizen Property
Insurance Corporation assessment.
Proposed law provides that notwithstanding any other provision of law to the contrary and
on January 1, 2016, tax credits for Louisiana Citizens Property Insurance Corporation
assessments shall be handled as follows:
(1)For taxable years 2012, 2013, and 2014, taxpayers who have not previously claimed
their tax credits for the refund of their Louisiana Citizens Property Insurance
assessment shall have until December 31, 2016, to apply for the tax credits or other
reimbursements for the prior year's assessments which have not been previously
claimed.
(2)For taxable periods for 2015 and thereafter, refunds of assessments shall be remitted
to eligible homeowners by the Department of Insurance under the provisions of R.S.
22:2317.1, and the provisions of proposed law relative to the tax credit for the
Louisiana Citizens Property Insurance Corporation assessment for 2015 and all
subsequent years shall be null, void, and of no effect on January 1, 2016.
Effective January 1, 2016.
(Adds R.S. 22:2317.1 and R.S. 47:6025(D)
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.