VOTE "YES" ON CONSTITUTIONAL AMENDMENT #1 [INFOGRAPHIC]
LOUISIANA REALTORS • August 25, 2017
Constitutional Amendment #1 will read:
"DO YOU SUPPORT AN AMENDMENT TO EXEMPT FROM PROPERTY TAXES MATERIALS AND OTHER PROPERTY DELIVERED TO A CONSTRUCTION SITE TO BE MADE PART OF A BUILDING OR OTHER CONSTRUCTION?"
Louisiana REALTORS® along with a coalition of organizations are asking that you VOTE YES to Constitutional Amendment #1 on October 14. The broad and diverse coalition of supporters includes: Louisiana Policy Jury Association, Louisiana Home Builders Association, Louisiana Industrial Development Executives Association, Louisiana Municipal Association, Louisiana Midcontinent Oil and Gas Association, Louisiana Oil and Gas Association, Louisiana Sheriff's Association, Louisiana Associated General Contractors, Associated Builders and Contractors, Louisiana Association of Business and Industry, Louisiana Chemical Association, A bipartisan coalition of State Legislators, and Louisiana Governor John Bel Edwards.
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple joined Governor Jeff Landry and Senate Insurance Committee Chairman Kirk Talbot today to announce that Louisiana is investing an additional $20 million in Fortified homes, bringing the total amount invested in state Fortified projects this year to $100 million. Governor Landry announced that $20 million from the U.S. Department of Housing and Urban Development will be transferred to the Louisiana Office of Community Development Restore Resilient Opportunities for Overhead Fortification (Restore ROOF) program to strengthen residential structures and reduce long-term disaster risk. Earlier this year, the Legislature passed a bill that allows $50 million in additional Katrina and Rita bond money from Louisiana Citizens Property Insurance Corporation to be added to the Department of Insurance’s Louisiana Fortify Homes Program (LFHP). Also beginning this year, LFHP is projected to receive approximately $30 million annually from taxes and fees the Louisiana Department of Insurance collects from the insurance industry. “Building stronger homes is a vital part of making homeowners insurance affordable in Louisiana,” said Commissioner Temple. “I appreciate Governor Landry’s leadership and support as we work with legislators like Chairman Talbot to make Louisiana a national leader in the adoption of Fortified roofs.” The Louisiana Department of Insurance (LDI) has finalized its promulgation of Regulation 136—Fortify Homes Premium Discounts. The purpose of Regulation 136 is to implement the statutory provisions set forth in La. R.S. 22:1483, et seq. , which require that all Louisiana property and casualty insurers provide premium discounts or insurance rate reductions for homes constructed or upgraded in accordance with the fortified standards created by the Insurance Institute for Business and Home Safety. View Regulation 136 here .
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