Wednesday, May 26, 2010

Holy Batcameras! 767 Insurance Stops Per Day?

Will Governor Henry's estimate of $50 million in new revenue from vehicle insurance scofflaws caught with his new highway traffic "spy" camera system turn out to be similar to his inflated estimate of how much the lottery would raise?

Some say so today. One enterprising reader of Charles G. Hill's popular blog www.dustbury.com, figures out the figures are mind-boggling, based on a formula by which the system administration firm (not yet chosen) will be paid 30 percent of fines collected: "...for our chunk to be $50m, the total has to be $70m. At $250 a fine, that means we would have to ticket 280,000 vehicles. Not being given a time frame in which this $50m would be raised a lot of folks assume that it would be in a year (we always think in timeframes of a year) but that would mean stopping 767 cars a day!"

(The governor's budget estimates the $50 million in income for one year.)

Labels: , ,

Share |