Ohio SB131 amends the state's Revised Code to clarify compensatory damages for damaged vehicles in tort actions.

Ohio SB131 amends the state's Revised Code to clarify compensatory damages for damaged vehicles in tort actions. It sets limits on noneconomic loss damages, which cannot exceed the greater of $250,000 or three times the economic loss. The bill specifies that economic loss includes lost wages and other pecuniary harm. It also outlines criteria for determining the fair market value of a damaged vehicle, including the cost of repairs and loss of use. The bill excludes certain types of claims from these provisions, such as those against the state or political subdivisions.

Ohio SB131 amends the state's Revised Code to clarify compensatory damages for damaged vehicles in tort actions.

Ohio SB131 amends the state's Revised Code to clarify compensatory damages for damaged vehicles in tort actions. It sets limits on noneconomic loss damages, which cannot exceed the greater of $250,000 or three times the economic loss. The bill specifies that economic loss includes lost wages and other pecuniary harm. It also outlines criteria for determining the fair market value of a damaged vehicle, including the cost of repairs and loss of use. The bill excludes certain types of claims from these provisions, such as those against the state or political subdivisions.