Bill Text: TX HB552 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the inclusion of diminished value in the minimum motor vehicle liability insurance coverage requirement.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-20 - Left pending in committee [HB552 Detail]
Download: Texas-2021-HB552-Introduced.html
87R181 SCL-D | ||
By: Thompson of Brazoria | H.B. No. 552 |
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relating to the inclusion of diminished value in the minimum motor | ||
vehicle liability insurance coverage requirement. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 601.072(a-1), Transportation Code, is | ||
amended to read as follows: | ||
(a-1) Effective January 1, 2022 [ |
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of motor vehicle liability insurance coverage required to establish | ||
financial responsibility under this chapter are: | ||
(1) $30,000 for bodily injury to or death of one person | ||
in one accident; | ||
(2) $60,000 for bodily injury to or death of two or | ||
more persons in one accident, subject to the amount provided by | ||
Subdivision (1) for bodily injury to or death of one of the persons; | ||
and | ||
(3) $25,000 for damage to or destruction of property | ||
of others in one accident, including any diminution of value as a | ||
result of the accident. | ||
SECTION 2. Section 601.072(a-1), Transportation Code, as | ||
amended by this Act, applies only to establishment of financial | ||
responsibility under Chapter 601, Transportation Code, with an | ||
insurance policy delivered, issued for delivery, or renewed on or | ||
after January 1, 2022. Establishment of financial responsibility | ||
with an insurance policy delivered, issued for delivery, or renewed | ||
before January 1, 2022, is governed by the law as it existed | ||
immediately before the effective date of this Act, and that law is | ||
continued in effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2021. |