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Bill

Bill

SB 1494

RELATING TO FIREARMS INSURANCE.

2024 Regular Session Introduced by Stanley Chang and 2 co-sponsors

SB 1494 requires gun owners to obtain insurance for their firearms, promoting accountability and enhancing public safety by mitigating financial impacts of gun-related incidents.

Carried over to 2024 Regular Session.
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WeVote Research Nonpartisan
Bill Summary · SB 1494

Summary of SB 1494: Relating to Firearms Insurance

Purpose and Intent

SB 1494 aims to establish a framework for firearms insurance, which would require gun owners to obtain insurance coverage for their firearms. The intent of this legislation is to promote responsible gun ownership, mitigate the financial impact of gun-related incidents, and enhance public safety.

Key Provisions

  • Insurance Requirement: The bill mandates that all firearm owners must secure insurance coverage for their firearms. This requirement is intended to ensure that gun owners are financially responsible for any damages or injuries caused by their firearms.

  • Coverage Specifications: While specific details regarding the minimum coverage amounts and types of incidents covered are not fully outlined in the current version, the bill is expected to address these aspects in future amendments or regulations.

  • Implementation Timeline: The bill outlines a timeline for implementation, which will be further defined as it progresses through the legislative process.

Affected Parties

  • Gun Owners: The primary group affected by this legislation will be individuals who own firearms. They will be required to purchase insurance, which may impact their financial obligations and choices regarding firearm ownership.

  • Insurance Providers: Insurance companies will need to develop policies tailored to meet the new requirements, potentially leading to new products in the market.

  • Public Safety Advocates: Organizations focused on gun safety and public health may support this legislation as a means to reduce gun violence and enhance accountability among gun owners.

Legislative Process and Timeline

  • Introduced: January 22, 2025
  • First Reading: January 23, 2025

  • Committee Reviews: The bill has undergone several committee reviews, including:

    • HHS (Health and Human Services): Recommended passage with amendments on February 3, 2025.
    • CPN (Commerce, Consumer Protection, and Health): Recommended passage with amendments on February 20, 2025.

  • Third Reading: The bill passed its third reading in the Senate on March 4, 2025, and was transmitted to the House for consideration.

  • Current Status: As of March 12, 2025, the bill has been deferred by the HLT (Health, Land, and Technology) committee and is carried over to the 2024 Regular Session for further discussion and potential amendments.

Related Legislation

  • Companion Bill: HB 1166 is a companion bill that addresses similar issues regarding firearms insurance, indicating a broader legislative interest in this area.

This summary provides an overview of SB 1494, highlighting its purpose, key provisions, affected parties, and the legislative process it has undergone. As the bill progresses, further details and amendments may shape its final form and impact.

Compiled from official sources — confirm details with the bill’s official record.

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