IL SB2882

Amends Section 8-101 of the Illinois Vehicle Code regarding financial responsibility requirements for passenger transportation services.

Expands coverage requirements for contract carriers transporting employees (including railroad employees) to verify hit and run and underinsured motor vehicle coverage of at least $250,000 per passenger.

Increases the required coverage amount to $500,000 per passenger effective January 1, 2017.

Maintains exemptions for ridesharing arrangements, public utilities, school buses operated by public or parochial schools, and commuter vans operating under the Ridesharing Arrangements Act.

Effective upon becoming law.