Fiscal Note

SB0122 - Motor Vehicle Insurance Amendments

State Impact:
Provisions of this bill will generate approximately $8,700 to the General Fund for FY 2002. An appropriation of $3,000 from the General Fund to the Insurance Department is needed for postage and processing of policy change forms, also in FY 2002.

Individual and Business Impact:
Provisions of this bill could increase litigation defense costs to those who operate vehicles and to insurers. An increase in defense costs may cause a small increase in premium rates to consumers and businesses. These amounts cannot be quantified.

Office of the Legislative Fiscal Analyst
1/24/2001 3:06:14 PM

Last Revised: 30 August, 2000