Illinois Senate Bill 1268 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on August 5 2015 - 100% progression
Action: 2015-08-05 - Public Act . . . . . . . . . 99-0286
Text: Latest bill text (Chaptered) [HTML]

Amends the Structured Settlement Protection Act. Provides that the structured settlement obligor and the annuity issuer shall be discharged from any and all liability by complying with a court order approving a transfer of structured settlement payment rights, and shall not have or incur any liability to the payee, transferee, or assignee as a result of the failure of the court order, transfer agreement, disclosure statement, or the transfer proceeding to comply with the Act, another applicable State or federal statute relating to structured settlement transfers, or any other law. Provides that an application for approval of a structured settlement transfer shall be brought in the circuit court of the county in which the payee is domiciled at the time the transfer agreement was signed or, if the payee is not domiciled in this State or in any other state that has enacted a statute that requires court approval of a transfer of structured settlement payment rights, then the application may be brought in the county in which the structured settlement obligor or annuity issuer is domiciled or has its principal place of business in this State. Provides what information is necessary to make an application to the court under the Act. Provides that a court may review all applications for transfer filed, and may approve or deny a transfer despite the existence of terms in the underlying settlement agreement, qualified assignment, related annuity, or in any other relevant document that purports to restrict or preclude the payee's right or power to assign or transfer structured settlement payment rights. Makes other changes.

STRUCTURED SETTLEMENT TRANSFER

Sen. William Haine [D]

Rep. Michael Zalewski [D]

Rep. Peter Breen [R]

Rep. Andre Thapedi [D]

2015-05-20 - House - Third Reading in House (Y: 115 N: 0 NV: 1 Abs: 0) [PASS]
2015-04-22 - Senate - Third Reading in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]

Date	Chamber	Action
2015-08-05	Senate	Public Act . . . . . . . . . 99-0286
2015-08-05	Senate	Effective Date August 5, 2015
2015-08-05	Senate	Governor Approved
2015-06-18	Senate	Sent to the Governor
2015-05-20	Senate	Passed Both Houses
2015-05-20	House	Third Reading - Short Debate - Passed 115-000-000
2015-05-19	House	Placed on Calendar Order of 3rd Reading - Short Debate
2015-05-19	House	Second Reading - Short Debate
2015-05-13	House	Placed on Calendar 2nd Reading - Short Debate
2015-05-13	House	Do Pass / Short Debate Judiciary - Civil Committee; 011-000-000
2015-05-13	House	Added Alternate Co-Sponsor Rep. André Thapedi
2015-05-08	House	Committee Deadline Extended-Rule 9(b) May 15, 2015
2015-05-08	House	Added Alternate Chief Co-Sponsor Rep. Peter Breen
2015-05-04	House	Assigned to Judiciary - Civil Committee
2015-04-23	House	Referred to Rules Committee
2015-04-23	House	First Reading
2015-04-23	House	Chief House Sponsor Rep. Michael J. Zalewski
2015-04-23	House	Arrived in House
2015-04-22	Senate	Third Reading - Passed; 057-000-000
2015-04-22	Senate	Placed on Calendar Order of 3rd Reading
2015-04-22	Senate	Senate Floor Amendment No. 2 Adopted; Haine
2015-04-22	Senate	Recalled to Second Reading
2015-04-22	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Judiciary; 011-000-000
2015-04-21	Senate	Senate Floor Amendment No. 2 Assignments Refers to Judiciary
2015-04-14	Senate	Senate Floor Amendment No. 2 Referred to Assignments
2015-04-14	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine
2015-03-25	Senate	Placed on Calendar Order of 3rd Reading March 26, 2015
2015-03-25	Senate	Second Reading
2015-03-24	Senate	Placed on Calendar Order of 2nd Reading March 25, 2015
2015-03-24	Senate	Do Pass as Amended Judiciary; 012-000-000
2015-03-24	Senate	Senate Committee Amendment No. 1 Adopted
2015-03-24	Senate	Senate Committee Amendment No. 1 Assignments Refers to Judiciary
2015-03-20	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2015-03-20	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
2015-03-18	Senate	Postponed - Judiciary
2015-03-03	Senate	Assigned to Judiciary
2015-02-17	Senate	Referred to Assignments
2015-02-17	Senate	First Reading
2015-02-17	Senate	Filed with Secretary by Sen. William R. Haine

Chapter	Article	Section	Citation Type	Statute Text
215	153	15	Amended Code	Citation Text
215	153	20	Amended Code	Citation Text
215	153	25	Amended Code	Citation Text
215	153	30	Amended Code	Citation Text
215	153	35	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1268&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB1268.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB1268eng.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB1268enr.htm
Text	https://www.ilga.gov/legislation/publicacts/99/099-0286.htm
Amendment	https://www.ilga.gov/legislation/99/SB/09900SB1268sam001.htm
Amendment	https://www.ilga.gov/legislation/99/SB/09900SB1268sam002.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB1268_04222015_050000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/99/house/09900SB1268_05202015_033000T.pdf