131st MAINE LEGISLATURE
LD 1661 LR 529(03)
An Act to Require a Liability Automobile Insurance Policy to Cover the Costs of Towing and Storing Certain Vehicles
Fiscal Note for Bill as Engrossed with:
C "A" (S-410)
Committee: Health Coverage, Insurance and Financial Services
             
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Appropriations/Allocations
Other Special Revenue Funds $0 $20,250 $0 $0
Fiscal Detail and Notes
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 Insurance associated with reviewing the impact on insurance premiums of requiring coverage for storage and towing costs can be absorbed within existing budgeted resources.