RDCSB484 3264 5009
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)]
SB 484 Reengrossed 2024 Regular Session Duplessis
Present law authorizes the commissioner of insurance (commissioner) to provide financial
grants to retrofit roofs for insurable properties that have a homestead exemption to provide
a fortified roof that meets or exceeds the fortified roof standard of the Insurance Institute for
Business and Home Safety. Requires the commissioner to adopt rules and regulations to
govern the eligibility requirements for grants and the administration of the program.
Proposed law retains present law and further requires the commissioner to promulgate rules
and regulations when necessary for the proper administration of the La. Fortified Homes
Program.
Proposed law authorizes the commissioner to apply for grants or funds from the federal
government or other funding sources, if available.
Proposed law authorizes the commissioner to enter into a cooperative endeavor agreement
with public agencies and private entities for certain projects pursuant to proposed law.
Proposed law requires the La. Dept. of Insurance (LDI) to provide certain reports to ensure
a maximum rate of return on investments received for the La. Fortify Homes Program.
Present law requires a person receiving a grant to obtain necessary permits, pay for
inspections, comply with applicable building codes, and maintain certain records.
Proposed law retains present law and further requires the grant recipient to submit to random
reinspections of his retrofitted insurable property.
Proposed law requires LDI to conduct a third-party actuarial study to determine whether
certain discounts would be actuarially justified for a structure that meets certain standards.
Requires such study if the legislature appropriates sufficient funds. Further authorizes LDI
to conduct the study on its own accord if there is no sufficient appropriation and requires
LDI to publish findings of the study on its website or other publicly available platform.
Present law provides for termination of the La. Fortify Homes Program at midnight on June
30, 2025.
Proposed law repeals present law.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 22:1483.1(A) and (C) and R.S. 44:4.1(B)(11); Adds R.S.22:1483.1(B)(5) and
(E)(3) and 1483.3; Repeals R.S. 22:1483.1(F))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Insurance to the original
bill
1. Makes technical change.
2. Provides the commissioner may apply for grants or other funds.
3. Provides the commissioner may enter into certain agreements with public
agencies and private entities for certain projects.
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4. Provides for a discount program for the La. wind mitigation inspection
certificate.
5. Provides certain information and records are confidential.
6. Deletes proposed law relative to submission of rates and rating plans.
7. Deletes proposed law relative to insurers providing certain discounts or rate
reductions.
Senate Floor Amendments to engrossed bill
1. Adds requirement that the department create a discount program for wind
mitigation.
2. Adds requirement that the department provide certain reports to ensure a
maximum rate of return on investments received for the La. Fortify Homes
Program.
3. Adds requirement that the department conduct an actuarial study regarding
certain discounts with a third-party, contingent on funding.
4. Adds requirement for the department to publish the findings of the actuarial
study by July first each calendar year.
5. Makes technical changes.
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Insurance to the
reengrossed bill:
1. Remove the requirement for the La. Dept. of Insurance (LDI) to design a
discount program relative to a La. wind mitigation certificate.
2. Remove the requirement for LDI to provide information to insurers with respect
to certain recommendations and discounts and remove LDI's requirement to
make the information publicly available.
3. Modify language to authorize LDI to conduct an actuarial study on its own
accord when the legislature does not appropriate sufficient funds.
4. Make technical changes.
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