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131st MAINE LEGISLATURE |
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LD 1661 |
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LR 529(02) |
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An Act to Require
a Liability Automobile Insurance Policy to Cover the Costs of Towing and
Storing Certain Vehicles |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Health Coverage, Insurance and
Financial Services |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Appropriations/Allocations |
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Other Special Revenue Funds |
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$0 |
$20,250 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill
includes a one-time Other Special Revenue Funds allocation to the Department
of Professional and Financial Regulation, Bureau of Insurance of $20,250 in
fiscal year 2024-25 to review insurance rate plans and forms associated with
motor vehicle liability policy coverage of towing and vehicle storage.
Additional costs to the Bureau of Insurane associated with reviewing the
impact on insurance premiums of requiring coverage for storage and towing
costs can be absorbed within existing budgeted resources. |
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