INSURANCE PREMIUMS: Provides for a premium discount for certain military personnel. (8/1/24)

This bill requires automobile insurance companies in Louisiana to offer a 25% discount on liability premiums to active-duty military members, reservists, and National Guard personnel based in the state. To help cover the cost of these discounts, insurers receive a tax credit equal to the amount of the discount they provide, with any unused credit refunded without interest. The state insurance commissioner must create specific rules to define which military personnel qualify and to establish the process for verifying eligibility.