Motor vehicles; Peer-to-Peer Car Sharing Program Act, established

SB 265 establishes the Peer-to-Peer Car Sharing Program Act, creating a legal framework for businesses that connect vehicle owners with individuals who want to rent their personal cars for a fee. The bill defines terms like "shared vehicle owner" and "shared vehicle driver," and sets requirements for the operation of these peer-to-peer car sharing programs. A key provision mandates that these programs assume liability for bodily injury or property damage to third parties during the car sharing period, requiring specific motor vehicle liability insurance coverage. This insurance must recognize or not exclude the use of vehicles through these programs and can be purchased by the owner, driver, or program. The legislation also provides for the taxation of peer-to-peer car sharing programs under certain conditions.