Bill Text: IL HB4786 | 2023-2024 | 103rd General Assembly | Engrossed
Bill Title: Amends the Insurance Producers, Limited Insurance Representatives, and Registered Firms Article of the Illinois Insurance Code. Provides that the annual registration fee for an education provider that is not based in the State of Illinois is $2,000. Makes a conforming change.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Engrossed) 2024-04-24 - Referred to Assignments [HB4786 Detail]
Download: Illinois-2023-HB4786-Engrossed.html
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| 1 | AN ACT concerning regulation.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Insurance Code is amended by | ||||||
| 5 | changing Section 500-135 as follows:
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| 6 | (215 ILCS 5/500-135) | ||||||
| 7 | (Section scheduled to be repealed on January 1, 2027) | ||||||
| 8 | Sec. 500-135. Fees. | ||||||
| 9 | (a) The fees required by this Article are as follows: | ||||||
| 10 | (1) a fee of $215 for a person who is a resident of | ||||||
| 11 | Illinois, and $380 for a person who is not a resident of | ||||||
| 12 | Illinois, payable once every 2 years for an insurance | ||||||
| 13 | producer license; | ||||||
| 14 | (2) a fee of $50 for the issuance of a temporary | ||||||
| 15 | insurance producer license; | ||||||
| 16 | (3) a fee of $150 payable once every 2 years for a | ||||||
| 17 | business entity; | ||||||
| 18 | (4) an annual $50 fee for a limited line producer | ||||||
| 19 | license issued under items (1) through (8) of subsection | ||||||
| 20 | (a) of Section 500-100; | ||||||
| 21 | (5) a $50 application fee for the processing of a | ||||||
| 22 | request to take the written examination for an insurance | ||||||
| 23 | producer license; | ||||||
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| 1 | (6) an annual registration fee of $1,000 for | ||||||
| 2 | registration of an education provider based in the State | ||||||
| 3 | of Illinois, and $2,000 for registration of an education | ||||||
| 4 | provider that is not based in the State of Illinois; | ||||||
| 5 | (7) a certification fee of $50 for each certified | ||||||
| 6 | pre-licensing or continuing education course and an annual | ||||||
| 7 | fee of $20 for renewing the certification of each such | ||||||
| 8 | course; | ||||||
| 9 | (8) a fee of $215 for a person who is a resident of | ||||||
| 10 | Illinois, and $380 for a person who is not a resident of | ||||||
| 11 | Illinois, payable once every 2 years for a car rental | ||||||
| 12 | limited line license; | ||||||
| 13 | (9) a fee of $200 payable once every 2 years for a | ||||||
| 14 | limited lines license other than the licenses issued under | ||||||
| 15 | items (1) through (8) of subsection (a) of Section | ||||||
| 16 | 500-100, a car rental limited line license, or a | ||||||
| 17 | self-service storage facility limited line license; | ||||||
| 18 | (10) a fee of $50 payable once every 2 years for a | ||||||
| 19 | self-service storage facility limited line license. | ||||||
| 20 | (a-5) Beginning on July 1, 2021, an amount equal to the | ||||||
| 21 | additional amount of revenue collected under paragraphs (1) | ||||||
| 22 | and (8) of subsection (a) as a result of the increase in the | ||||||
| 23 | fees under this amendatory Act of the 102nd General Assembly | ||||||
| 24 | shall be transferred annually, with 10% of that amount paid | ||||||
| 25 | into the State Police Training and Academy Fund and 90% of that | ||||||
| 26 | amount paid into the Law Enforcement Training Fund. | ||||||
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