VEH CD-SCH BUS LIABILITY INSUR

Amends the Illinois Vehicle Code. Provides that a vehicle used for a purpose that requires a school bus driver permit shall carry a minimum of liability insurance in the amount of $1,000,000 (rather than $2,000,000) combined single limit per accident, and a minimum of $5,000,000 in excess or umbrella liability insurance. Provides that a vehicle used for a purpose that requires a school bus driver permit and is used in connection with the operation of private day care facilities, day camps, summer camps, or nursery schools shall carry a minimum of $5,000,000 in excess or umbrella liability insurance, in addition to the required liability insurance. Provides that insurance coverage must be provided by a licensed and admitted insurance carrier or an intergovernmental cooperative formed under provisions of the Illinois Constitution of 1970 and the Intergovernmental Cooperation Act, or provided by a certified self-insurer under the Illinois Vehicle Code.