Proposal to lower Louisiana Citizens insurance rates narrowly fails in tied vote

A proposal to lower insurance rates for homeowners covered under the state-backed Louisiana Citizens Property Insurance Corp. was narrowly defeated Wednesday in a tied committee vote. House Bill 524, sponsored by Rep. Matthew Willard, D-New Orleans, stalled in the House Insurance Committee in a 9-9 vote. As one of the only proposals this session to provide direct relief to the homeowners most af…