H5066: Fair Access to Insurance Requirements

Legislative Summary

Amend The South Carolina Code Of Laws By Adding Chapter 103 To Title 38 Entitled The "fair Access To Insurance Requirements" So As To Provide An Affordable Option To Provide Liquor Liability Insurance To Any Person Or Business Required To Maintain Such A Policy, To Create The Affordable Liquor Liability Fund To Aid In The Funding Of The Program, And To Provide That The Excise Tax On Alcoholic Liquor By The Drink Must Be Credited To The Fund In Certain Circumstances; To Amend Section 12-33-245, Relating To The Excise Tax, So As To Make A Conforming Change; By Amending Section 61-2-145, Relating To Liability Insurance Coverage Requirements, So As To Provide For A Liquor Liability Risk Mitigation Program; And To Provide That The Insurance Reserve Fund Is Authorized To Provide A Start-up Loan To The Fund.