Implementation of new legislation in Iowa, USA
Sensys Gatso Group, a global leader in traffic safety solutions, announces that, as part of new automated traffic enforcement legislation in Iowa, each location where automated speed enforcement was already being used, had to receive a permit through the Iowa Department of Transportation (IaDOT). The IaDOT released its decisions on submitted permit applications for automated speed enforcement systems. Sensys Gatso is currently investigating the financial impact. As the outcome of our customers' appeals could have an impact on this analysis, we cannot yet evaluate the potential effect of the implementation of the new legislation.
As of May 17, 2024 the state of Iowa in the USA enacted legislation that provided guidelines for automated speed enforcement programs. The aim is to bring Iowa legislation in line with other states, mostly regarding permitted locations, maximum fine amounts, and speed thresholds. As communities navigated the changes, some programs were temporarily paused between May 17th and late June. As part of the new legislation, each location where automated speed enforcement was already being used had to receive a permit through the Iowa Department of Transportation (IaDOT). The IaDOT has now released its decisions on submitted permit applications for automated speed enforcement systems.
Unexpectedly, only 11 out 140 fixed speed location permits throughout the state were approved. For Sensys Gatso customers, 7 out of 75 fixed speed system location permits were approved by the IaDOT. In addition, 95 out of 148 submitted mobile speed deployment location applications were approved. The legislation and permitting process did not apply to automated red light enforcement cameras in the state. Each of those installed systems will continue normal operations. All city authorities are investigating the appeals process allowing for reconsideration of all sites not permitted in the unprecedented decisions by the IaDOT.
Our leadership team is in communication with our customers to see how we might be able to provide assistance to fill the void in their traffic safety programs. In the interim, Sensys Gatso, including our local consultants and legal counsel, will work with our partner communities to seek all options that would reestablish the operations of the speed systems not receiving a permit.
This information is information that Sensys Gatso Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.05 on October 9, 2024.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E-mail: investors@sensysgatso.com
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Costa Rica, Germany, the Netherlands, Saudi Arabia, Sweden and the USA, and a branch office in the United Arab Emirates and has 302 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.
For further information, visit www.sensysgatso.com
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