HLS 23RS-671 ORIGINAL
2023 Regular Session
HOUSE BILL NO. 309
BY REPRESENTATIVE GAROFALO
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
INSURANCE: Provides relative to fortified home and commercial standards
1 AN ACT
2To amend and reenact R.S. 22:1483(C)(1), relative to insurance discounts and rate
3 reductions for residential and commercial buildings; to require insurers to provide
4 premium credits or discounts under certain circumstances; and to provide for related
5 matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 22:1493(C)(1) is hereby amended and reenacted to read as follows:
8 ยง1483. Premium discounts, credits, rate differentials, adjustments in deductibles,
9 and other adjustments for compliance with building codes and for damage
10 mitigation
11 * * *
12 C.(1) After July 1, 2022, All insurers required to submit rating plans to the
13 commissioner may, if actuarially justified, shall provide credits and discounts in
14 compliance with the fortified home and fortified commercial standards created by
15 the Insurance Institute for Business and Home Safety. Any homeowner who is
16 currently receiving discounts pursuant to this Section may opt to maintain discounts
17 offered prior to July 1, 2022, if the homeowner continues to meet the requirements
18 to maintain such discounts, in lieu of the discount provided in this Subsection.
19 * * *
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 23RS-671 ORIGINAL
HB NO. 309
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 309 Original 2023 Regular Session Garofalo
Abstract: Provides that all insurers that are required to submit rating plans to the
commissioner of insurance must provide credits and discounts.
Present law provides that after July 1, 2022, all insurers required to submit rating plans to
the commissioner may, if actuarially justified, provide credits provide credits and discounts
in compliance with the fortified home and fortified commercial standards created by the
Insurance Institute for Business and Home Safety.
Proposed law mandates that all insurers that submit rating plans give credits and discounts
for such compliance.
Proposed law makes technical changes.
(Amends R.S. 22:1483(C)(1))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.