RECAP: 2018 Legislative Session (Week 1)
LOUISIANA REALTORS • March 16, 2018
The first week of the 2018 Legislative Regular Session is over and very few substantive bills have been moved to the House or Senate floor. It is expected that many bills will be heard in committee next week and things will start moving at a faster pace. Louisiana REALTORS® will provide regular updates on items throughout session.
HOUSE BILL NO. 383 - LOUISIANA FIRST HOME
REALTOR® MEMBERS ARE ENCOURAGED TO RESPOND TO THE ACTIVE
CALL FOR ACTION AND CONTACT YOUR LEGISLATORS TO SUPPORT THIS BILL.
House Bill No. 383 by Representative Paula Davis (creating a rebate for first time home buyers) will be heard by the House Ways and Means Committee Tuesday, March 20th. Louisiana REALTORS® legislative team was at the Capitol this week promoting the bill and received mostly good feedback. However, there are legislators who are concerned about passing any type of rebate this year as the state continues to face a fiscal deficit.
CALL FOR ACTION - HB #383
LEGISLATIVE BILL REVIEW
Louisiana REALTORS® will conduct the annual bill review session on Wednesday, March 21st at LR offices. At this meeting, REALTORS® and staff go over close to one hundred bills that have been identified as potentially affecting the real estate industry. LR will provide a grid to track these bills throughout the session. If you have specific comments or questions regarding any legislation proposed, contact Kim Callaway - Director of Legal & Governmental Affairs.
REGISTER TO ATTEND REALTOR DAY® ON APRIL 24
Preparations are underway in Baton Rouge for the annual Spring Into Action Conference.
The event will provide great information on what's happening in the industry and your local boards are working with LR to have a strong member presence for REALTOR® Day. Register by Wednesday, March 28 and guarantee the REALTOR® Day shirt before the event!
2026 Louisiana housing market outlook for agents. Learn how local data, pricing strategy, and negotiation tactics shape success in a balanced market.
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple announced today that the Louisiana Department of Insurance (LDI) continues its work to develop a regulation creating benchmark discounts for Fortified roofs in Louisiana. The LDI is working with the National Association of Insurance Commissioners (NAIC) to develop the benchmark discounts using Louisiana-specific data, hurricane modeling and actuarial considerations. “With over 11,000 Fortified roofs in Louisiana and two years-worth of insurer experience with rating for those roofs in our state, now is an appropriate time for the LDI to establish benchmark discounts for homeowners insurance companies operating in our market,” said Commissioner Temple. “These benchmarks are being thoughtfully developed to help consumers receive the discounts they deserve for fortifying their homes while making sure insurers know the benchmarks reflect how much Fortified roofs actually mitigate their exposure to risk across Louisiana.” Like in Alabama’s Fortified benchmark discount structure, the LDI regulation would require Louisiana insurance companies to either meet the minimum benchmark discount established by the LDI or provide actuarial justification for why the company’s discount does not meet the benchmark. Louisiana is the fastest growing state for Fortified roofs in America. To date, over 11,000 Fortified roofs have been installed in Louisiana, including over 4,100 through the Louisiana Fortify Homes Program.
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