The bill amends Louisiana's insurance law to require motor vehicle insurers to provide a 25% premium discount on automobile liability insurance policies for active duty military personnel, military reservists, and members of the Louisiana Air and Army National Guards. Additionally, the bill expands eligibility for this discount to include retired military personnel and veterans with a disability rating of 50% or more. Insurers offering these discounts will receive a credit against premium taxes equal to the discount provided, with any unused credit refundable to the insurer.

The bill also mandates that insurers submit documentation to the commissioner of insurance to verify the discounts provided. The commissioner is tasked with adopting rules and regulations to implement these provisions, including defining the eligible personnel for the discounts. The effective date for this legislation is set for January 1, 2025.

Statutes affected:
SB337 Original: 22:1482(A)
SB337 Engrossed: 22:1482(A)
SB337 Enrolled: 22:1482(A)
SB337 Act : 22:1482(A)