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HB 662

TAX/INSURANCE PREMIUM: Levies an insurance premium tax and dedicates the revenue to the Louisiana Fortify Homes Program

2025 Regular Session Introduced by Rodney Lyons

Louisiana HB 662 creates an insurance premium tax dedicated entirely to funding the state's Fortify Homes Program, increasing consumer costs to finance residential disaster resilience.

Read by title, under the rules, referred to the Committee on Insurance.
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Bill Summary · HB 662

Legislative bill overview

HB 662 proposes creating a new insurance premium tax in Louisiana, with all revenue generated directed specifically to fund the Louisiana Fortify Homes Program. The bill was introduced by Representative Rodney Lyons and is currently in the Insurance Committee for review.

Why is this important

Insurance premium taxes directly affect consumer costs and insurance market competitiveness. The Fortify Homes Program typically focuses on making residential properties more resilient to natural disasters—a critical concern in Louisiana given hurricane and flood risks. The revenue structure and tax rate will determine both program funding levels and the actual cost impact on policyholders.

Potential points of contention

  • Tax burden on consumers: Any new tax on insurance premiums will increase costs for policyholders, potentially affecting affordability and market participation rates
  • Program definition and effectiveness: Questions about what "Fortify Homes Program" entails, eligibility requirements, and whether dedicated funding ensures meaningful outcomes versus bureaucratic overhead
  • Insurance market impact: New taxes on insurers could influence competition, rates, and carrier participation in Louisiana's already challenging insurance market

Compiled from official sources — confirm details with the bill’s official record.

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