HB 146-MOTOR VEHICLE DEALERS: APPLIC.; INSURANCE  4:29:26 PM CHAIR SPOHNHOLZ announced that the final order of business would be CS FOR SPONSOR SUBSTITUTE FOR HOUSE BILL NO. 146(JUD), "An Act relating to an application for a license to operate as a dealer in motor vehicles; and requiring a dealer in motor vehicles to maintain liability and property insurance." 4:29:41 PM REPRESENTATIVE MATT CLAMAN, Alaska State Legislature, as prime sponsor, provided a brief review of HB 146. He stated that the bill adds additional requirements for licensed motor vehicle dealers, such as increasing the surety bond rate from $50,000 to $100,0000 and requiring that the dealer has liability insurance. Additional provisions require that motor vehicle dealer license applicants provide a copy of that insurance, he said. 4:30:29 PM REPRESENTATIVE STORY expressed her support for actions involving fraud, embezzlement, or misappropriations of property resulting in a felony charge. She opined that its appropriate because it affects what the intent is. 4:30:52 PM REPRESENTATIVE GILLIS recalled that raising the insurance rate would cost $750. He asked if that is correct. REPRESENTATIVE CLAMAN clarified that what Mr. Gillis is referring to is the bond rate. He further noted that $750 is for two years of coverage. REPRESENTATIVE GILLIS opined that [$750] is not enough money to deter someone. REPRESENTATIVE CLAMAN agreed that its not enough money to deter someone from becoming a dealer. He said its not meant to be a barrier to entry into the profession. 4:32:01 PM CHAIR SPOHNHOLZ opened public testimony. After ascertaining that no one wished to testify, she closed public testimony. 4:32:22 PM REPRESENTATIVE STUTES moved to report CSSSHB 146(JUD) out of committee with individual recommendations and the accompanying fiscal notes. Without objection, CSSSHB 146(JUD) was moved from the House Labor and Commerce Standing Committee.