This bill amends and reenacts specific provisions of Louisiana law regarding insurance fraud, particularly focusing on the venue for insurance fraud cases and the allocation of funds from insurance fraud assessments. It establishes that, in addition to existing venues outlined in the Code of Criminal Procedure, the Nineteenth Judicial District Court in East Baton Rouge Parish is also an appropriate venue for such cases. The bill also modifies the allocation of funds collected from insurance fraud assessments, ensuring that these funds are dedicated to various state agencies involved in fraud detection and investigation, while repealing a previous statute related to the Louisiana Automobile Theft and Insurance Fraud Prevention Authority.

Key changes include the adjustment of the fee assessment process, where if the previous year's fee exceeds operational costs by five percent, the next year's fee will be reduced accordingly. Additionally, the bill specifies that funds collected will be allocated to the insurance fraud investigation unit, the Department of Justice's insurance fraud support unit, and the Department of Insurance's insurance fraud section, among others. The bill also creates a dedicated fund account for insurance fraud investigations, ensuring that unspent funds are returned to insurers on a pro-rata basis. The effective date for the provisions in Section 2 is set for September 1, 2024, while other sections will take effect upon the governor's signature or after the legislative approval process.

Statutes affected:
SB369 Original: 40:1428(A)(3)
SB369 Engrossed: 40:1428(A)(3)
SB369 Enrolled: 40:1428(A)(3)
SB369 Act 340: 40:1428(A)(3)