Louisiana House Bill HB273

Louisiana 2016 Regular Session

• Introduced: 3/1/16
• Refer: 3/1/16
• Refer: 3/14/16
• Report Pass: 3/23/16
• Engrossed: 3/31/16
• Refer: 4/4/16
• Report Pass: 4/13/16
• Enrolled: 4/20/16
• Chaptered: 4/29/16
• Passed: 4/29/16

Caption

Re-creates the Department of Insurance

Impact

The enactment of HB 273 directly impacts the governance and operational framework of the Department of Insurance in Louisiana. By re-establishing the Department and its statutory entities, the bill guarantees that they can continue their regulatory functions and legislative oversight. The changes proposed in the bill are designed to streamline the operations of the Department while providing necessary legal authority for its operations, thus helping maintain an effective insurance regulatory environment in the state.

Summary

House Bill 273 focuses on the re-creation of the Louisiana Department of Insurance, providing essential provisions for its continued existence and governance. The bill establishes a formal timeline for the termination of previously existing statutory authority associated with the Department, specifically noting that all statutory entities under it will have their authority cease as of July 1, 2023. This re-creation process is aimed at ensuring that the Department remains functional and can carry out its mandate effectively beyond the stipulated expiration date.

Sentiment

The sentiment surrounding HB 273 appears largely supportive among legislators, as evidenced by the voting results which show a significant majority in favor of the bill. With a vote tally of 33 yeas to 1 nay, the consensus reflects an understanding among law-makers of the importance of sustaining the Department's operational capacity. Generally, the bill is seen as a positive step towards ensuring that the Louisiana Department of Insurance can continue effectively managing insurance regulations and consumer protections.

Contention

While there were few points of contention noted during the discussions of HB 273, discussions generally focused on the significance of the Department of Insurance's role in maintaining oversight of the insurance market. Some skepticism may exist regarding the necessity of periodic re-creation of such departments, but overall, there appeared to be consensus on the importance of a streamlined and well-functioning Department. The repealing of obsolete statutory provisions highlights an effort to modernize and improve the state's legislative framework in this area.