IL SB2524

Amends Section 12-707.01 of the Illinois Vehicle Code regarding liability insurance requirements for school buses and certain vehicles

Establishes different insurance requirements based on policy issuance date: policies issued or renewed before January 1, 2013 require $25,000 per person/$100,000 per accident; policies issued or renewed on or after January 1, 2013 require higher coverage amounts

Requires school buses requiring a school bus driver permit to carry minimum $2,000,000 combined single limit liability insurance per accident (effective January 1, 2013 and after)

Reduces insurance requirement to $1,000,000 combined single limit per accident for vehicles used with private day care facilities, day camps, summer camps, or nursery schools that require a school bus driver permit

Requires for-profit ridesharing vehicles (commuter vans or passenger cars) to carry minimum $500,000 combined single limit liability insurance per accident (effective January 1, 2013 and after)