Louisiana Citizens Insurance Corporation has filed a 63-percent rate increase with the Louisiana Insurance Department. The insurer cites rising reinsurance costs and the number of policies growing from 35-thousand to 114-thousand. Insurance Commissioner Jim Donelon says he’ll go over the propsoal thoroughly with his staff. If approved it will take effect on January 1st…:
Cut 13 (06) “…what they submitted.”
Donelon says next year he’ll seek legislative approval for an incentive plan to bring more private insurers into the state.

The Louisiana Bond Commission has approved a 39-million dollar future line of credit for a power plant that would energize pumps to reduce flooding in New Orleans. Attorney General Jeff Landry led an effort to withhold the future dollars over city leaders pledging now to enforce the state’s abortion ban. But Lt. Governor Billy Nungesser says after not voting for the funding at the last two meetings, it’s time to approve it…
cut 7 (09) “…I feel”
The vote was eleven to one in favor of the future line of credit.

Louisiana does not have many electric vehicle charging stations compared to other states, but the federal government has approved the state’s plan to bring more charging stations to Louisiana, which will result in 73-million dollars in federal funding over the next five years. Transportation Secretary Shawn Wilson says they will distribute grants to private businesses who want to install, own and operate the E-V charging stations…
cut 10 (04) “….public 24-7”
Wilson expects to distribute the funds by the summer of 2023.

New US Census information shows Louisiana had the highest poverty rate in the country from 2019 to 2021 at nearly 20-percent. But Louisiana Budget Project Director Jan Moller says thanks to food stamps and enhanced unemployment during the pandemic, the state’s poverty rate actually decreased…
cut 15 (12) “….improved”
Moller says national data shows poverty, especially among children fell to historic lows when the expanded Child Tax Credit was available.