FUND
House Bill 4052
Sponsor: Rep. William Callahan
Committee: Insurance and Financial
Services
Complete to 2-8-99
A SUMMARY OF HOUSE BILL 4052 AS INTRODUCED 1-27-99
The bill would amend the Insurance Code to change the calculation of the assessment automobile insurers are required to pay for the automobile theft prevention fund. Currently, each insurer in the state that provides insurance coverage for automobiles or motorcycles is required to pay $1.00 multiplied by the insurer's total "earned car years" of insurance provided for the immediately preceding calendar year. Under the bill, insurers would be required to pay $1.00 for each motor vehicle or motorcycle that the insurer had covered during the previous year. Further, the bill provides that the assessment, once collected, would not be refundable.
MCL 500.6107
Analyst: W. Flory