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| SPONSOR: | Larranaga | DATE TYPED: | 2/23/99 | HB | 323 | ||
| SHORT TITLE: | Personal Choice Auto Insurance Act | SB | |||||
| ANALYST: | Esquibel | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| N/A | Indeterminate | Indeterminate | Recurring | GF | |
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
Public Regulation Commission (PRC)
Attorney General's Office (AG)
SUMMARY
Synopsis of Bill
House Bill 323 proposes several means to provide consumers flexibility in choosing financial options to meet the responsibility to retain mandatory vehicle insurance.
Significant Issues
The attached analysis by the AG adequately describes issues associated with the legislation.
FISCAL IMPLICATIONS
The bill proposes the superintendent of insurance would prepare a budget reflecting costs associated with carrying out the responsibilities associated with the Personal Choice Auto Insurance Act.
The Insurance Division projects it would require $17.3 in initial non-recurring set up costs; and approximately $40.0 in recurring operating costs.
RAE/njw