The Louisiana Legislature has adopted a resolution urging the United States Congress to take necessary actions to pass three key pieces of legislation aimed at addressing the financial burden of flood insurance on residents, particularly in coastal parishes. These proposed laws include the Flood Insurance Affordability Act, which seeks to cap annual premium increases at nine percent, the Risk Rating 2.0 Transparency Act, which demands greater transparency from FEMA regarding its flood insurance pricing methodology, and the Flood Insurance Affordability Tax Credit Act, which would provide a refundable tax credit to low- and middle-income households enrolled in the National Flood Insurance Program (NFIP). The resolution highlights the significant challenges faced by homeowners in Louisiana due to rising flood insurance premiums exacerbated by recent hurricanes and the implementation of FEMA's Risk Rating 2.0 methodology.

The resolution expresses concern that the Risk Rating 2.0 has led to substantial premium increases for many families, undermining their financial stability and potentially driving them to drop coverage altogether. It emphasizes the need for reform in the NFIP to ensure that flood insurance remains affordable and sustainable for all Americans, particularly in light of the increasing frequency and severity of flooding events. The Louisiana Legislature aims to ensure that homeowners have access to fair and equitable flood insurance, and it calls for Congress to act promptly to address these pressing issues. A copy of the resolution will be sent to relevant congressional leaders and the Louisiana congressional delegation.