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By Ms. Gobi of Spencer, petition (accompanied by bill, House, No. 960) of Anne M. Gobi and others relative to raising additional safety funds for motorcycles from insurers. Financial Services. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Ms. Gobi of Spencer, petition (accompanied by bill, House, No. 960) of Anne M. Gobi and others relative to raising additional safety funds for motorcycles from insurers. Financial Services. |
The Commonwealth of Massachusetts
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PETITION OF:
Kathi-Anne Reinstein
Stephen M. Brewer
Todd M. Smola
Louis L. Kafka
Christine E. Canavan
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In the Year Two Thousand and Seven.
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An Act relative to raising additional safety funds for motorcycles from insurers. |
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 113B of Chapter 175 of the Massachusetts General Laws 2002 Official Edition shall be amended by inserting after line 112 the following paragraph:
In fixing and establishing classifications of risks, the commissioner shall annually access and collect upon Company license renewal, from each insurer writing motorcycle liability policies, five percent (5%) of the prior year’s earned premiums on such motorcycle policies; the Commission or person collecting such assessment shall pay those collected funds to the Registrar of Motor Vehicles, where they will be deposited into a Registry retained revenue account. Such fees shall be appropriated solely for the purpose of promoting and advancing motorcycle safety and reducing accidents and claims, in accordance with Massachusetts General Law Chapter 90, Section 34.