RÉSUMÉ DIGEST
ACT 533 (SB 484) 2024 Regular Session Duplessis
Prior law authorized 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. Prior law required the commissioner to adopt rules governing
the eligibility requirements for grants and the administration of the program.
New law requires the commissioner to promulgate rules and regulations when necessary for
the proper administration of the La. Fortified Homes Program.
New law authorizes the commissioner to apply for grants or funds from the federal
government or other funding sources, if available.
New law authorizes the commissioner to enter into a cooperative endeavor agreement with
public agencies and private entities for certain projects pursuant to new law.
New law requires the La. Dept. of Insurance (department) to provide certain reports to
ensure a maximum rate of return on investments received for the La. Fortify Homes
Program.
Existing law requires a person receiving a grant to obtain necessary permits, pay for
inspections, comply with applicable building codes, and maintain certain records.
New law retains existing law and further requires the grant recipient to submit to random
reinsertions of his retrofitted insurable property.
New law requires the department to conduct a third-party actuarial study to determine
whether certain discounts would be actuarially justified for a structure that meets certain
standards. New law requires such study if the legislature appropriates sufficient funds.
Further authorizes the department to conduct the study on its own accord if there is no
sufficient appropriation and requires the department to publish findings of the study on its
website or other publicly available platform.
Prior law provided for termination of the La. Fortify Homes Program at midnight on June
30, 2025.
New law repeals prior law.
Effective June 10, 2024.
(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))