1999
BY REPRESENTATIVES Veiga, Coleman, Hagedorn, Hoppe, Larson, Leyba, Mace, Ragsdale, Spradley, Swenson, Takis, Tapia, Taylor, and Tupa;
also SENATORS Matsunaka, Chlouber, Musgrave, Owen, and Weddig.
Concerning the annual gross income level required to qualify for a basic personal injury protection auto insurance policy.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. 10-4-706 (3) (c) (I) and (3) (c) (II), Colorado Revised Statutes, are amended to read:
10-4-706. Required coverages - complying policies - PIP examination program. (3) (c) (I) To qualify for a basic personal injury protection policy, the combined annual gross income of a person and such person's resident spouse shall not have a combined annual gross income, from all sources, of more than twenty thousand dollars. exceed one hundred eighty five percent of the federal poverty level, adjusted for family size.
(II) The base year for calculation of the maximum qualifying combined annual gross income for purposes of this paragraph (c) shall be 1991, and such maximum qualifying combined annual gross income shall be readjusted annually on January 1, starting January 1, 1993, based on the increase, if any, for the preceding calendar year in the consumer price index for all urban consumers as published by the United States bureau of labor statistics. On or before January 1 of each year, the commissioner shall prescribe income guidelines for determining eligibility for a basic personal injury protection program based upon the applicable family size income levels contained in the nonfarm income poverty guidelines prescribed by the federal office of management and budget.
SECTION 2. Safety clause. The general assembly hereby finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety.
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Russell George Ray Powers
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Patricia K. Dicks
CHIEF CLERK OF THE HOUSE SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
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Bill Owens
GOVERNOR OF THE STATE OF COLORADO