(The Center Square) – The Department of Insurance is down to the last three bills in the legislative session that they are tracking. Two have been sent to Gov. Jeff Landry’s desk and one is in conference awaiting a possible compromise.
The two awaiting Landry’s signature are Senate Bills 28 and 137. Both passed without a single vote in opposition.
SB28 would create a state income tax credit of up to $10,000 for homeowners who install storm-resistant roofs that meet fortified standards set by the Insurance Institute for Business and Home Safety. The goal is to encourage upgrades that could reduce hurricane damage and potentially lower insurance premiums.
“If we’re willing to give $10,000 of money in a grant, we should also be willing to extend a tax deduction up to the same level for someone who chooses to put that on themselves,” Temple told The Center Square.
The credit would be available to owner-occupied homes with a homestead exemption, excluding new construction, mobile homes, and condominiums. It would apply to qualifying expenses incurred on or after July 1, 2025, and is nonrefundable, though unused portions could be carried forward for up to three years. The program is capped at $10 million in credits per year and would sunset after Dec. 31, 2031.
The Fortify Homes Program has been largely successful. A survey cited by the Louisiana Legislative Auditor office showed that participants “were very satisfied and are very likely to recommend it to family and friends.”
The second measure, SB137, would require property and auto insurers to notify the state insurance commissioner within 10 days if they decide to pause, stop, or resume writing new policies in any geographic area of the state.
Insurers must disclose the effective date, the lines of insurance affected, the area impacted, and a brief explanation for the action. While the notifications would be confidential and not subject to Louisiana’s public records law, the bill gives regulators more visibility into market shifts that have left some homeowners scrambling for coverage in recent years.
The new reporting rule does not apply to short-term pauses tied to incoming natural disasters like hurricanes. The Louisiana Department of Insurance will oversee the implementation and can issue rules to enforce the law.
The remaining insurance bill — SB136 — is still pending in a Senate conference committee. A conference committee involves three legislators from both chambers arriving to a compromise. Once they do, the conference report will need to be passed by a majority in both chambers to reach Landry’s desk.
That measure would require insurers to provide personalized rate transparency reports to consumers when offering or renewing homeowners and auto insurance policies. The reports would break down premium costs by key categories such as reinsurance, claims, commissions, and profits, and would have to be written in clear, easy-to-understand language.