Modifies the term "purchase" as it relates to political subdivisions purchasing liability insurance for tort claims

HB 142 sets maximum insurance coverage limits for local governments (like cities or counties) purchasing liability insurance to cover claims for injuries or damages. It limits total coverage to $2 million per incident and $300,000 per person, excluding workers' compensation claims. The bill requires annual adjustments to these limits based on inflation using the U.S. Bureau of Economic Analysis' Personal Consumption Expenditures index. This directly affects local governments purchasing insurance and individuals filing claims against them, capping the amount they can recover.