This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0890 - Requires Payment Under Every Auto Liability Insurance Policy
L.R. NO. 2847-01
BILL NO. SB 890
SUBJECT: Insurance-Automobile, Vehicles, Liability
TYPE: Original
DATE: February 13, 1996
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
None
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
None
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Insurance, the Office of Administration, the
Department of Highways and Transportation, and the Department of Conservation
assume this proposal would no fiscally impact their agencies.
FISCAL IMPACT - State Government FY 1997 FY 1998 FY 1999
(10 Mo.)
$0 $0 $0
FISCAL IMPACT - Local Government FY 1997 FY 1998 FY 1999
(10 Mo.)
$0 $0 $0
DESCRIPTION
This proposal would extend to every motor vehicle liability policy coverage
to all vehicles owned by, leased to, or loaned to the insured individual. An
individual with more than one liability policy would be allowed to collect
damages under each policy, except the liability payments may not exceed the
damages suffered by the individual. Individuals would need to buy only one
liability insurance policy, no matter how many vehicles are owned.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Department of Insurance
Office of Administration
Department of Highways and Transportation
Department of Conservation