Private Passenger Motor Vehicle Insurance - Fairness and Affordability Study

HB 1583 requires the Maryland Insurance Administration to form a workgroup to study how to create a low-cost auto insurance program or economic relief credit for low-income drivers. The workgroup, including insurance officials, lawmakers, and representatives from insurers and consumer groups, must examine eligibility criteria (like income thresholds and driving records), program funding options, and administration structures. They must report findings to the Governor and General Assembly by January 1, 2027, with the bill itself expiring after one year on June 30, 2027. The bill does not create a new program but mandates a study to inform future legislative action on insurance affordability.