Senate Bill 224

Chair's Name: Tom Knox

Committee: Insurance

Senate Sponsor: Ralph Hudgens

House Sponsor: Tom Knox

SB 224 puts in place a process for insurers to supply electronic information to the Insurance Department to aid in the enforcement of minimum motor vehicle liability insurance. Policies for commercially insured vehicle are redefined and are distinguished from the process in place for individual policies.

This bill received a Do Pass recommendation from the Insurance Committee and comes to the House Floor as a Rules Committee Substitute under the Open Rule. 

Chairman Knox�s opinion of this legislation:

WHAT PROBLEM/OPPORTUNITY DOES THIS LEGISLATION ADDRESS?

Erroneous information is being transmitted about automobile titles particularly �fleet� vehicles.

WHAT IS THE DRIVING FORCE BEHIND THIS LEGISLATION?

Industry reporting information and Dept. of Revenue needing account records.

THIS LEGISLATION:

• Reduces the Size of Government:

Improves the efficiency of government by providing solutions to computerized record keeping.

• Reduces the Tax Burden on our Citizens:

More accurate record keeping will enhance the ability to properly collect taxes involved with motor vehicles.

• Increases Personal Responsibility:

Requires companies to resolve all their information to begin with a more accurate data base.