View Amendment Current Amendment: 2 to Bill 3518

Rep. Gilliam proposes the following amendment (LC-3518.CM0008H):

Amend the bill, as and if amended, SECTION 5, by striking Section 56-10-520(D) and inserting:

(D) The reinstatement fee shall be six hundred dollars until adjusted in accordance with this section. This reinstatement fee may be adjusted annually, at the beginning of the calendar year, based upon and in relation to the average rate level for private passenger automobile insurance coverages by insurers in this State. The Department of Insurance, by annual order, will set this exact fee. The Department of Insurance shall notify the Department of Motor Vehicles by the first business day of October each year of the reinstatement fee for the coming calendar year.