(Bloomberg) — Louisiana is finalizing a plan to move thousands of people from areas threatened by the rising Gulf of Mexico, effectively declaring uninhabitable a coastal area larger than Delaware.

A draft of the plan, the most aggressive response to climate-linked flooding in the U.S., calls for prohibitions on building new homes in high-risk areas, buyouts of homeowners who live there now, and hikes in taxes on those who won't leave. Commercial development would still be allowed, but developers would need to put up bonds to pay for those buildings' eventual demolition.

"Not everybody is going to live where they are now and continue their way of life," said Mathew Sanders, the state official in charge of the program, which has the backing of Governor John Bel Edwards. "And that is an emotional, and terrible, reality to face."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Commercial Lines
Loss Control
Personal Lines
Regulation/Legislation
Weather Risk