February 18, 2003, Introduced by Reps. Hunter, McConico, Cheeks, Vagnozzi, Smith, Condino, Murphy, Gleason, Stallworth and Phillips and referred to the Committee on Insurance.
A bill to amend 1956 PA 218, entitled
"The insurance code of 1956,"
(MCL 500.100 to 500.8302) by adding section 2111c.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 2111c. (1) By not later than 60 days after the
2 effective date of this section, each automobile insurer shall
3 file base rates for senior citizens that reflect a 20% reduction
4 from the rates in effect on June 1, 2002.
5 (2) Assessments required under this act, including, but not
6 limited to, assessments for the Michigan catastrophic claims
7 association, the automobile theft prevention authority, and the
8 Michigan automobile insurance placement facility, shall not be
9 considered in achieving the reduction required by subsection
10 (1).
11 (3) As used in this section, "senior citizen" means a
1 resident of this state who is 65 years of age or older.