5 minutes Date Enacted: Oct 29, 2014
The new regulations classify the ridesharing companies as “transportation network companies” and require them to carry a license with the city costing $10,000 a year. License requirements include $100,000 in liability insurance, keeping trip records for six months, as cab companies must do, requirements for background checks on drivers and minimum requirements for vehicles.
Overview excerpt sourced from City Passes Ride Sharing Regulations