HB 5012

Amends the Illinois Vehicle Hijacking and Motor Vehicle Theft Prevention and Insurance Verification Act. Provides that each self-insured commercial vehicle rental company may collect and shall pay into the Vehicle Hijacking and Motor Vehicle Theft Prevention and Insurance Verification Trust Fund an amount equal to $1.00, or a lesser amount determined by the Illinois Vehicle Hijacking and Motor Vehicle Theft Prevention and Insurance Verification Council, multiplied by each car rental contract providing physical damage insurance coverage written by it in the State during the preceding calendar year. Effective January 1, 2027.