| TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | HB1390 by Leibowitz (Relating to the minimum amounts of motor vehicle liability insurance coverage required to establish financial responsibility.), As Introduced |
The bill would amend the Transportation Code as it relates to the minimum amounts of motor vehicle liability insurance coverage required to establish financial responsibility.
The bill would change the minimum amounts of motor vehicle liability insurance coverage required to establish financial responsibility to 1) $30,000 for bodily injury to or death of one person in one accident; 2) $60,000 for bodily injury to or death of two or more persons in one accident, subject to the amount provided by Subdivision (1) for bodily injury to or death of one of the persons; and 3) $30,000 for damage to or destruction of property of others in one accident.
The bill would apply only to a motor vehicle liability insurance policy that is delivered, issued for delivery, or renewed on or after the effective date of the bill.
The bill would take effect September 1, 2005.
| Source Agencies: | 405 Department of Public Safety, 454 Department of Insurance
|
| LBB Staff: | JOB, JRO, VDS, SJ
|