LA HB224

Reduces the annual premium tax rate for vehicle insurance policies with gross annual premiums exceeding $6,000 from $300 to $200 for each additional $10,000 of gross annual premiums, effective July 1, 2026

Maintains the existing minimum annual tax of $185 for vehicle insurance policies with gross annual premiums of $6,000 or less

Applies only to vehicle risk policies and contracts issued or executed on or after July 1, 2026

Retains current tax rates ($300 per additional $10,000) for all other insurance types including fire, marine, workers' compensation, property damages, and surety policies