Urges the commissioner of insurance to create the Hurricane Mitigation Commission to study and report findings and recommendations relative to the handling of property insurance claims in the wake of hurricanes and the necessity of a catastrophe savings account.
Directs flood protection districts and parish governing authorities in areas benefitting from the federal Hurricane and Storm Damage Risk Reduction System (HSDRRS) to contribute towards the $400 million annual payments the state must make for this project (EN SEE FISC NOTE GF EX See Note)