Illinois General Assembly - Bill Status for HB4057

Amends the Illinois Vehicle Code. Provides that for any one person in any one accident, the required amount of liability insurance shall be $25,000 for policies issued or renewed before July 1, 2012 and $1,000,000 for any policy issued or renewed on and after July 1, 2012. Provides that the required amount of insurance for 2 or more persons in any one accident shall be: (i) $100,000 for personal injury liability insurance policies issued or renewed before July 1, 2012; (ii) $1,000,000 for policies issued or renewed on and after July 1, 2012 and before July 1, 2013; (iii) $2,000,000 for policies issued or renewed on and after July 1, 2013 and before July 1, 2014; and (iv) $3,000,000 for policies issued or renewed on and after July 1, 2014. Provides that provisions of Public Act 97-224 making certain personal injury liability insurance requirements applicable to a first division vehicle including a taxi which is used for a purpose that requires a school bus driver permit are inoperative before July 1, 2012 and are operative on and after July 1, 2012. Effective immediately.

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