GREEN SHEET REDIGEST
HB 566 2021 Regular Session Jordan
FUNDS/FUNDING: Dedicates a portion of the taxes collected on certain surplus lines
of insurance.
DIGEST
Present law requires the Commissioner of Insurance to collect a tax equal to 4.85% of the
gross premium for each surplus line of insurance issued when La. is the home state of the
policyholder.
Proposed law retains present law.
Present law requires 100% of the proceeds collected to be credited to the state general fund.
Proposed law decreases from 100% to 96% the amount of proceeds credited to the state
general fund.
Proposed law further dedicates the remaining four percent of collected revenues as follows
to the Louisiana Fire Marshal Fund (R.S. 22:835).
Effective July 1, 2021.
(Amends R.S. 22:439(A)(1))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Finance to the
engrossed bill
1. Increases from 86% to 96% the amount of proceeds credited to the state
general fund.
2. Reduces dedication to the Louisiana Fire Marshal Fund from 6% to 4%.
3. Deletes the amount credited to the Two Percent Fire Insurance Fund (R.S.
22:347).
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Prepared by Martha Hess.