House Bill No. [insert number] aims to re-create the Department of Insurance and its associated statutory entities, extending their operational authority until July 1, 2031. The bill establishes that the Department of Insurance will be re-created effective June 30, 2026, and all statutory authority for its existence will continue in accordance with Louisiana law. The bill also specifies that the termination of operations for the Department and its entities will begin on July 1, 2030, unless the department is re-created before that date.

Additionally, the bill amends R.S. 49:191(3)(b) to include the Department of Insurance and its statutory entities as part of the termination schedule, while repealing R.S. 49:191(1)(e) in its entirety. This change supersedes previous provisions that required separate legislation for the re-creation of each statutory entity within the department. The new termination date of July 1, 2031, replaces the earlier date of July 1, 2027, as outlined in existing law. The bill is set to take effect on June 30, 2026.

Statutes affected:
HB234 Original: 49:191(3), 49:191(1)