Democrats introduced another poison pill in the legislature over Memorial Day Weekend that ride-hailing companies say would end their service in the state…
A new amendment, which would require Uber and Lyft drivers to hold five times the amount of insurance coverage as a taxi cab driver, was introduced in the Nevada legislature late Friday.
Assemblyman Richard Carrillo, D-Las Vegas, proposed to amend SB 226 late Friday night. The amendment that the companies have called a “death blow” requires drivers to hold five times the amount of insurance coverage as a taxi cab driver.
Drivers in the state by law have to hold $300,000 in coverage while carrying a passenger. Carrillo’s amendment ups that to $1.5 million for ride-hailing drivers only.
The amendment would also require more provisions that would be unique to the industry. Drivers would have to hold business licenses before they could even apply for a job with one of the companies.
The state does not require workers in any other industry to preemptively license.
Another idea posited by the amendment, which received a rare Memorial Day hearing Monday morning, would be to regulate the ride-hailing industry under the state’s Transportation Authority – a move that would require 25 new regulatory positions and cost $3.8 million to taxpayers over the next two years.
The kicker? Carrillo pocketed $2,000 from the taxicab industry in 2016. In total, they gave $327,000 to legislators during the 2016 cycle. That group has reason to be concerned. According to the Reno Gazette-Journal, the taxicab industry “has suffered massive ridership loss since Uber and Lyft officially came to the state in 2015.
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