Senate Bill No. by Senator Duplessis aims to enhance the Louisiana Fortify Homes Program by mandating that insurers provide a minimum premium discount of twenty percent to insureds who retrofit their properties in accordance with the program. This requirement must be fulfilled by October 1, 2027. The bill also stipulates that if an insurer cannot meet this minimum discount, they must submit a proposed alternative discount or rate reduction along with an actuarial justification to the commissioner of insurance for review.

Additionally, the bill empowers the commissioner to assess the justification for any proposed discounts or rate reductions. If the commissioner finds the proposal unjustified, they can require the insurer to submit a new proposal. This legislative measure is designed to incentivize property retrofitting to enhance safety and resilience against disasters, while also ensuring that insureds receive appropriate financial benefits for their participation in the program. The bill will take effect upon the governor's signature or after the designated period for gubernatorial action.