Bill > SB1667

This bill, concerning motor vehicle financial responsibility, mandates that individuals must prove they meet the requirements of the "Financial Responsibility Law of 1977" before their vehicle can be initially registered, with this requirement set to expire on June 30, 2029. Proof can be provided through an insurance policy, an insurance binder, or an insurance card valid for at least thirty days, or alternatively, through a certificate from the commissioner of revenue indicating a cash deposit, bond, or self-insurance status. The bill also significantly increases penalties for failing to maintain required financial responsibility, raising the initial "coverage failure fee" to $500 and the "continued coverage failure fee" to $1,000, with further penalties for repeat offenses, including a $1,500 "repeated coverage failure fee" and potential suspension or revocation of vehicle registration. Additionally, it introduces a cap on non-economic damages in civil lawsuits arising from motor vehicle accidents for plaintiffs who themselves were not in compliance with financial responsibility laws, limiting such damages to $375,000 (or $750,000 in catastrophic cases) if they had received at least three notices of non-compliance within three years prior to the accident, and requires insurers to report policy cancellation data.