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Sponsors
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History
- Print number 5793a
- Amend (t) and recommit to insurance
- Referred to insurance
- Referred to insurance
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5793A
Title of bill
An act to amend the insurance law and the vehicle and traffic law, in relation to personal vehicle sharing programs
Purpose
The purpose of this legislation is to provide insurance coverage for vehicle owners and renters participating in a personal vehicle sharing program.
Summary of provisions
This bill amends the insurance law by adding a new section 3441. This bill also amends the vehicle and traffic law by adding a new paragraph (e) to subdivision 4 of section 311; by renumbering subdivisions 2, 3, 4, and 5 of section 312 as subdivisions 3, 4, 5, and 6, and adding a new subdivision 2; by amending subdivision 1 of section 312-a, as amended by chapter 781 of the laws of 1983; and by amending paragraphs (a) and (b) of subdivision 2 of section 313, as amended by chapter 509 of the laws of 1998.
Justification
Public policy that nurtures the sharing economy can be an important catalyst of future economic development and growth. Economic progress is often driven by marshaling available resources more efficiently rather than simply creating new resources. And history has taught us that when technological progress leads to more efficient production, such technologies will always have a positive overall economic impact. Technologies and platforms which facilitate better use of assets we already have will lead to growth that is sustainable, and create value that is income equalizing.
Peer-to-peer marketplaces like those created by cars sharing programs add tremendous value to our existing asset base. Creating a widespread car-sharing or ride-sharing platform can achieve the same goals as building a new transportation network with little or no additional physical resource utilization, and in a manner that lowers a population's average ecological footprint.
This bill would amend the law to provide the necessary insurance and motor vehicle oversight to protect both consumers and vehicle owners so that peer to peer car share companies may operate in New York State.
Legislative history
This is a new bill.
Fiscal implications
None to state.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.