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Bill > S2279
NJ S2279
NJ S2279Raises minimum amount of liability coverage for commercial motor vehicles and autocabs.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
01/09/2024
01/09/2024
Dead
01/09/2024
01/09/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill raises the minimum amount of liability coverage for commercial motor vehicles to $1.5 million. Specifically, the bill: (1) requires an owner or registered owner of an autocab, commonly referred to as a "taxi," to maintain motor vehicle liability insurance coverage of at least $1.5 million to insure against loss resulting from liability imposed by law for bodily injury, death, and property damage; and (2) requires an owner or registered owner of a commercial motor vehicle with a gross vehicle weight rating of 10,001 or more pounds but less than 26,001 pounds to maintain motor vehicle liability insurance coverage of at least $500,000 to insure against loss resulting from liability imposed by law for bodily injury, death, and property damage.
AI Summary
This bill raises the minimum amount of liability coverage for commercial motor vehicles and autocabs (commonly referred to as "taxis") in New Jersey. Specifically, it requires owners or registered owners of autocabs to maintain at least $1.5 million in motor vehicle liability insurance coverage. Additionally, it requires owners or registered owners of commercial motor vehicles with a gross vehicle weight rating of 10,001 or more pounds but less than 26,001 pounds to maintain at least $500,000 in motor vehicle liability insurance coverage. The bill also provides definitions for the terms "commercial motor vehicle" and "autocab" used in the legislation. The new requirements will apply to all automobile insurance policies initiated or renewed on or after the effective date of the bill, which is the first day of the sixth month following the date of enactment.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Withdrawn Because Approved P.L.2023, c.276. (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S2279 |
| BillText | https://pub.njleg.gov/Bills/2024/S2500/2279_I1.HTM |
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