88R4717 JES-D
 
  By: Thompson of Brazoria H.B. No. 1235
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the inclusion of diminished value in the minimum motor
  vehicle liability insurance coverage requirement.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 601.072(a-1), Transportation Code, is
  amended to read as follows:
         (a-1)  Effective January 1, 2024 [2011], the minimum amounts
  of motor vehicle liability insurance coverage required to establish
  financial responsibility under this chapter are:
               (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)  $25,000 for damage to or destruction of property
  of others in one accident, including any diminution of value as a
  result of the accident.
         SECTION 2.  Section 601.072(a-1), Transportation Code, as
  amended by this Act, applies only to establishment of financial
  responsibility under Chapter 601, Transportation Code, with an
  insurance policy delivered, issued for delivery, or renewed on or
  after January 1, 2024. Establishment of financial responsibility
  with an insurance policy delivered, issued for delivery, or renewed
  before January 1, 2024, is governed by the law as it existed
  immediately before the effective date of this Act, and that law is
  continued in effect for that purpose.
         SECTION 3.  This Act takes effect September 1, 2023.