| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW. | |
| 4 | 4 | [Brackets] indicate matter deleted from existing law. | |
| 5 | 5 | *sb0697* | |
| 6 | 6 | ||
| 7 | 7 | SENATE BILL 697 | |
| 8 | 8 | C4 5lr3203 | |
| 9 | 9 | ||
| 10 | 10 | By: Senator Beidle | |
| 11 | 11 | Introduced and read first time: January 26, 2025 | |
| 12 | 12 | Assigned to: Finance | |
| 13 | 13 | ||
| 14 | 14 | A BILL ENTITLED | |
| 15 | 15 | ||
| 16 | 16 | AN ACT concerning 1 | |
| 17 | 17 | ||
| 18 | 18 | Maryland Automobile Insurance Fund – Premium Discounts – Methodology 2 | |
| 19 | 19 | ||
| 20 | 20 | FOR the purpose of requiring that a premium discount provided by the Maryland 3 | |
| 21 | 21 | Automobile Insurance Fund to an insured be based on the income of the insured and 4 | |
| 22 | 22 | actuarially justified; and generally relating to the Maryland Automobile Insurance 5 | |
| 23 | 23 | Fund. 6 | |
| 24 | 24 | ||
| 25 | 25 | BY adding to 7 | |
| 26 | 26 | Article – Insurance 8 | |
| 27 | 27 | Section 20–507(i) 9 | |
| 28 | 28 | Annotated Code of Maryland 10 | |
| 29 | 29 | (2017 Replacement Volume and 2024 Supplement) 11 | |
| 30 | 30 | ||
| 31 | 31 | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 12 | |
| 32 | 32 | That the Laws of Maryland read as follows: 13 | |
| 33 | 33 | ||
| 34 | 34 | Article – Insurance 14 | |
| 35 | 35 | ||
| 36 | 36 | 20–507. 15 | |
| 37 | 37 | ||
| 38 | 38 | (I) A REDUCTION IN A PREMIUM PROVIDED BY THE FUND TO AN INSURED 16 | |
| 39 | 39 | SHALL BE: 17 | |
| 40 | 40 | ||
| 41 | 41 | (1) BASED ON THE INCOME OF THE INSURED ; AND 18 | |
| 42 | 42 | ||
| 43 | 43 | (2) ACTUARIALLY JUSTIFIE D. 19 | |
| 44 | 44 | ||
| 45 | 45 | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 20 | |
| 46 | 46 | October 1, 2025. 21 |