The consultation was launched by SDLP Infrastructure Minister Nichola Mallon on Tuesday to seek views on her proposal.
It will also invite views on the introduction of Operation SNAP in the North.
Operation SNAP enables members of the public to submit dash cam footage showing careless driving or riding.
Said the Foyle MLA: “Any measure that actively discourages careless driving on our roads is to be warmly welcomed.
“By issuing tougher penalties to those convicted of this offence we will not only lower the number of people driving recklessly, but we will protect people from the risk of injury and death on our roads.
“I also welcome the proposals to introduce Operation SNAP in the North.
“With many drivers now operating dash cams this measure would make people think twice about driving carelessly and also allow proper action to be taken against those who ignore these rules and drive in an unsafe manner with no concern for those around them.
“I’d like to thank SDLP Minister Nichola Mallon for once against demonstrating her commitment to keeping our roads safe for everyone whether they be drivers, on motorcycles and bikes or pedestrians.
“This is the latest in a long line of initiatives Minister Mallon aiming to reduce the chance of harm to people using our roads.”