Lowers minimum amount of motor vehicle liability coverage for autocabs.

This bill lowers the minimum liability insurance requirement for autocabs (taxi-like vehicles) from $1.5 million to $200,000. It directly affects autocab owners who must now maintain coverage of at least $200,000 for bodily injury, death, or property damage per accident. The change modifies existing law (P.L.1972, c.197 and R.S.48:16-3) to reduce the mandated coverage amount. This is a concrete policy change affecting autocab operators' insurance obligations, not a procedural or commemorative measure.