This bill enacts new provisions in Louisiana law to enhance funding for the Louisiana Fortify Homes Program Fund. Specifically, it establishes that the first five million dollars collected from a tax on surplus lines and unauthorized insurance will be credited to this fund each fiscal year. Additionally, it mandates that certain fees collected by the Department of Insurance, including annual financial regulation fees and various licensing fees, will also contribute to the Fortify Homes Program Fund. The bill outlines the powers and duties of the commissioner of the Department of Insurance, including the ability to enter into cooperative agreements for the collection of policy information and the promulgation of rules for tax administration.

Furthermore, the bill allows for the collection of additional policy data and the computation of taxes based on risk classification through agreements with clearinghouses. It also stipulates that the commissioner can assess transaction fees related to these agreements. The provisions are set to take effect on July 1, 2026, aiming to bolster the financial resources available for home fortification initiatives in Louisiana.