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LouisianaHB 11872026 Regular SessionHouseWALLET

INSURANCE: Provides for emergency assessments of the Louisiana Citizens Property Insurance Corporation

Sponsored By: Paul Sawyer (Republican)

Signed by Governor

Insurance

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Insurance funds can help strengthen homes

Louisiana Citizens can use retained profits or excess reserves to fund the Louisiana Fortify Homes Program. Otherwise, retained funds offset plan shortfalls and follow insurer investment limits. Citizens can pledge assessments, insurance and reinsurance recoveries, surcharges, and other funds to secure borrowing, including credit lines, for shortfall-related debt. Emergency assessments continue until debt payments are adequately protected and provided for under financing agreements. These charges are not insurance rates or premiums and carry no premium tax, fees, or commissions. However, failure to pay is treated as failure to pay an insurance premium. Excess money means funds no longer needed for debt or related fees, expenses, reserves, and financing obligations. The law permits excess funds to support future debt or home fortification after debt is retired or legally discharged. For home-program transfers, Citizens cannot dispose of assessment money until all related debt is paid or no longer outstanding. Within 90 days after that condition is satisfied, its board must certify compliance, identify excess funds, and direct their transfer. Citizens must send the excess money to the state treasurer for the Fortify Homes Program Fund. The board can approve reasonable, necessary, documented transfer costs by resolution. Within 60 days of transfer, Citizens must report the amount, costs, and transfer date to legislative insurance committees and post the report and resolution online. The law sets no funding amount or new homeowner eligibility rules.

Narrower refund notices for property policyholders

Insurers must provide refund notices at policy issuance or renewal only when applicable to Katrina- or Rita-related Louisiana Citizens charges. These include surcharges, market equalization charges, and other assessments. Required notices include an electronic link to the state refund form and a bold, 14-point statement that the charge is refundable. The law does not change refund amounts or who qualifies.

Sponsors & Cosponsors

Sponsor

  • Paul Sawyer

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 133 • No: 9

Senate vote • 5/21/2026

Rules suspended. Read by title, passed by a vote of 34 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.

Yes: 34 • No: 0

House vote • 4/29/2026

Read third time by title, roll called on final passage, yeas 87, nays 9. Finally passed, title adopted, ordered to the Senate.

Yes: 87 • No: 9

House vote • 4/23/2026

Reported with amendments

Yes: 12 • No: 0

Actions Timeline

  1. Signed by the Governor. Becomes Act No. 416.

    5/27/2026House

  2. Effective date: 05/27/2026.

    5/27/2026House

  3. Sent to the Governor for executive approval.

    5/26/2026House

  4. Received from the Senate without amendments.

    5/25/2026House

  5. Enrolled and signed by the Speaker of the House.

    5/25/2026House

  6. Signed by the President of the Senate.

    5/25/2026Senate

  7. Rules suspended. Read by title, passed by a vote of 34 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.

    5/21/2026Senate

  8. Reported without Legislative Bureau amendments. Read by title and passed to third reading and final passage.

    5/18/2026Senate

  9. Read by title and referred to the Legislative Bureau.

    5/14/2026Senate

  10. Reported favorably.

    5/13/2026Senate

  11. Read second time by title and referred to the Committee on Insurance.

    5/4/2026Senate

  12. Read third time by title, roll called on final passage, yeas 87, nays 9. Finally passed, title adopted, ordered to the Senate.

    4/29/2026House

  13. Received in the Senate. Rules suspended. Read first time by title and placed on the Calendar for a second reading.

    4/29/2026Senate

  14. Read by title, amended, ordered engrossed, passed to 3rd reading.

    4/27/2026House

  15. Scheduled for floor debate on 04/29/2026.

    4/27/2026House

  16. Reported with amendments (12-0).

    4/23/2026House

  17. Read by title, under the rules, referred to the Committee on Insurance.

    4/1/2026House

  18. Read by title. Lies over under the rules.

    3/31/2026House

Bill Text

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