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History
- Referred to transportation
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increases the minimum insurance coverage requirements for motor vehicles rented or leased in the state
In Assembly Committee · Transportation · Sponsor James F. Brennan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the vehicle and traffic law, in relation to increasing the minimum insurance coverage requirements for motor vehicles rented or leased in the state of New York
Purpose
Provides that all motor vehicles rented or lease in New York must be covered by an owner's policy of liability insurance with a minimum limit of $1 million for bodily injury or death, and a minimum limit of $25,000 for vehicle damage.
Summary of provisions
Section 1 amends section 311 of the Vehicle and Traffic Law to include in the definition of an "owners policy of liability insurance" a minimum limit of $1 million dollars for bodily injury or death, for all rented and leased vehicles.
Section 2 amends section 312 of the Vehicle and Traffic Law to require the owners of rented and leased Vehicles to obtain the mandated insurance, and to hold any owner who fails to do so liable for injuries sustained as a result of the use of the rented or leased vehicles.
Section 3 amends section 345 of the Vehicle and Traffic Law to require owners liability policies to cover both the owner and user of a vehicle and imposes to a minimum limit of $1 million dollars for bodily injury or death, for all rented and leased vehicles.
Justification
This bill would amend the vehicle and traffic law to require the owners of rented or leased vehicles to obtain an owner's policy of liability insurance with a minimum limit of $1 million dollars for bodily injury or death.
The large corporations that own most rented and leased vehicles in New York benefit significantly from the use of the vehicles they own, including substantial tax write-offs for depreciation. However, they are currently under no obligation to bear responsibility for injuries caused by their vehicles.
By making the owners of leased and rented vehicles responsible for adequately insuring their own vehicles, this bill will protect other road users injured by rented or leased vehicles. It will also provide an incentive to the rental and leasing industry to properly vet the drivers entrusted with their vehicles, helping to keep unsafe drivers off New York's roads.
Legislative history
2012 - Transportation 2013 - Transportation 2014 - Transportation
Fiscal implications
None.
Effective date
This act shall take effect on the one hundred-eightieth day after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.