HI HB2015

Amends Hawaii Revised Statutes Section 431:10C-312 to extend general excise tax and certificate of ownership fee reimbursement rights to third party claimants, in addition to insured parties.

Requires insurers to reimburse third party claimants for applicable general excise tax and certificate of ownership fee when a replacement vehicle is purchased within thirty days of receiving a cash settlement, up to the amount payable on the total loss vehicle value.

Allows insurers to directly pay general excise taxes and certificate of ownership fees to third party claimants at the time of settlement as an alternative to reimbursement.

Requires third party claimants to substantiate vehicle purchases and tax payments with documentation submitted to the insurer within thirty-three days of receiving settlement, or forfeit reimbursement eligibility.

Takes effect upon approval.