This bill amends Iowa's motor vehicle financial responsibility laws by increasing the minimum coverage amounts required for bodily injury or death and property damage. Specifically, the minimum coverage for bodily injury or death of one person is raised from $20,000 to $50,000, for two or more persons from $40,000 to $100,000, and for property damage from $15,000 to $25,000. These new amounts align with the existing requirements for transportation network company drivers when they are not engaged in a prearranged ride. The bill also makes corresponding adjustments to related provisions concerning policies, bonds, and judgments.

Additionally, the bill establishes penalties for violations of the financial responsibility provisions. A serious misdemeanor is defined for violations that do not have specific penalties, with potential confinement of up to one year and fines ranging from $430 to $2,560. Furthermore, it reinforces the requirement that individuals must carry proof of financial liability coverage while driving, with penalties for non-compliance including a simple misdemeanor fine of $325, which increases to $645 if the violation is discovered during a motor vehicle accident. The bill also allows for the potential removal of vehicle registration plates and impoundment of the vehicle for such violations.

Statutes affected:
Introduced: 321A.1, 321A.5, 321A.15