| 1 | 1 | | 87R181 SCL-D |
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| 2 | 2 | | By: Thompson of Brazoria H.B. No. 552 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the inclusion of diminished value in the minimum motor |
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| 8 | 8 | | vehicle liability insurance coverage requirement. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 601.072(a-1), Transportation Code, is |
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| 11 | 11 | | amended to read as follows: |
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| 12 | 12 | | (a-1) Effective January 1, 2022 [2011], the minimum amounts |
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| 13 | 13 | | of motor vehicle liability insurance coverage required to establish |
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| 14 | 14 | | financial responsibility under this chapter are: |
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| 15 | 15 | | (1) $30,000 for bodily injury to or death of one person |
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| 16 | 16 | | in one accident; |
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| 17 | 17 | | (2) $60,000 for bodily injury to or death of two or |
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| 18 | 18 | | more persons in one accident, subject to the amount provided by |
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| 19 | 19 | | Subdivision (1) for bodily injury to or death of one of the persons; |
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| 20 | 20 | | and |
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| 21 | 21 | | (3) $25,000 for damage to or destruction of property |
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| 22 | 22 | | of others in one accident, including any diminution of value as a |
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| 23 | 23 | | result of the accident. |
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| 24 | 24 | | SECTION 2. Section 601.072(a-1), Transportation Code, as |
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| 25 | 25 | | amended by this Act, applies only to establishment of financial |
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| 26 | 26 | | responsibility under Chapter 601, Transportation Code, with an |
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| 27 | 27 | | insurance policy delivered, issued for delivery, or renewed on or |
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| 28 | 28 | | after January 1, 2022. Establishment of financial responsibility |
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| 29 | 29 | | with an insurance policy delivered, issued for delivery, or renewed |
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| 30 | 30 | | before January 1, 2022, is governed by the law as it existed |
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| 31 | 31 | | immediately before the effective date of this Act, and that law is |
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| 32 | 32 | | continued in effect for that purpose. |
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| 33 | 33 | | SECTION 3. This Act takes effect September 1, 2021. |
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