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Committee approves creation of Fortify Coastal Homes Fund to use post‑storm sales tax revenue
Summary
House Bill 663 would create a special fund to retrofit roofs in the coastal zone using a portion of sales tax receipts in the two months after qualifying disasters; the committee reported the measure favorably.
House Bill 663, presented by Representative Furman, would establish a Fortify Coastal Homes Fund in the state treasury to finance fortified‑roof retrofits within the coastal zone. The bill directs that, in addition to appropriations, 5% of sales tax revenue collected in the coastal zone during the first two full months after a natural disaster that includes part of the coastal zone be deposited into the fund; that deposit is capped at $60 million if 5% would exceed that amount.
Representative Furman said the approach would keep post‑storm tax revenue in impacted communities to strengthen resilience and help maintain a viable property insurance market. Adam Patrick of the Department of Insurance and Insurance Commissioner Tim Temple both registered support. Representative Wardroff, whose district includes coastal parishes, spoke in favor and moved to report the bill favorably; the committee approved the motion by voice consent.
Why it matters: the fund is designed to channel a predictable share of windfall post‑disaster sales tax receipts to resilient rebuilding in coastal communities, focusing on roof fortification through an existing program.
Details: the fund would accept 5% of coastal‑zone sales tax receipts in the first two full months after a qualifying natural disaster, with the deposit capped at $60 million; funds would be used through the Louisiana Fortify Homes program.
