Insurance - Automobile Insurance - Maryland Automobile Insurance Fund and Affordability Study

FinalHow bills become law

Now law

This is now an official law, recorded in the state's law books.

Stage 6 of 6Signature

2
Sponsors: 3
Votes: May 6 ’25
Last action

The governor signed it. Nothing left to watch.

Official text

Take action on this

In plain words

AI summary

Written by AI from the bill text. Check the official text before relying on it.

Description

Requiring the Maryland Automobile Insurance Fund to calculate and report its risk based capital level in accordance with certain provisions of insurance law and maintain total adjusted capital in a certain amount; establishing that certain provisions of insurance law regarding prior approval rate making apply to the Fund during a certain time period and under certain circumstances; requiring the Maryland Insurance Administration to establish a workgroup to study automobile insurance affordability; etc.

Subjects

Insurance AdministrationRevenue and Taxes -see also- (specific tax)Insurance - Other than HealthPrices -see also- Consumer Price IndexStudies -see also- Commitees & Commissions; ReportsCommittees and CommissionsStandards and Best PracticesAssessments -see also- Property TaxClassifications and DesignationsSunsetMotor Vehicle InsuranceFees -see also- Attys' Fees; Devt Fees & TaxesReports

Progress

IntroducedFeb 5, 2025
Sent to committeeFeb 6, 2025
Passed the first chamberMar 15, 2025
PassedMar 17, 2025
Became lawMay 6, 2025

From official state and federal legislative records. Informational only, not legal advice.