Senate Bill No. by Senator Talbot aims to enhance the powers of the Louisiana Citizens Property Insurance Corporation by allowing it to enter into cooperative endeavor agreements with the commissioner of insurance. Specifically, the bill enacts a new provision, R.S. 22:2297(C)(4), which permits the corporation to enter into such agreements with a majority vote from its governing board. These agreements are intended to benefit the policyholders of the corporation and must be submitted for approval to both the Senate Committee on Insurance and the House Committee on Insurance, requiring approval from both committees.

The bill retains existing powers of the Louisiana Citizens Property Insurance Corporation, such as borrowing funds and entering into contracts, while adding this new capability to foster collaboration with the commissioner of insurance. The effective date of the bill is contingent upon the governor's signature or the expiration of the time for bills to become law without the governor's signature. If vetoed and subsequently approved by the legislature, the bill will take effect the day after such approval.