IL SB1286 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 8-3)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Spectrum: Slight Partisan Bill (Democrat 8-3)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Summary
Amends the Domestic Captive Insurance Companies Article of the Illinois Insurance Code. Makes changes to provisions concerning definitions. Prohibits captive insurance companies from issuing certain types of insurance. Provides that the Department of Insurance may not issue a certificate of authority to a captive insurance company unless the company possesses and maintains unencumbered capital and surplus in an amounted determined by the Director of Insurance after considering specified factors. Provides that the amount of capital and surplus may not be less than specified for classes of captive insurance companies. Makes changes to the reports a captive insurance company must submit to the Director. Allows, upon written application to the Director, the annual report to be filed at a fiscal year's end, rather than on or prior to March 1. Allows a captive insurance company to make loans to its affiliates with the prior approval of the Director. Adds additional requirements for a captive insurance company to provide reinsurance. Provides that annually, 10% of the premium tax revenues collected under certain provisions of the Code to be transferred to the Department for the regulation of captive insurance companies. Reduces fees for the filing of certain documents from $7,000 to $2,000. Removes certain requirements to issue letters of credit. Allows the Director to approve captive reinsurance pools under certain circumstances. Makes provisions concerning standards for risk management of controlled unaffiliated businesses, captive managers, dividends, and confidentiality. Allows the Director to adopt rules to enforce the provisions. Repeals a provision concerning minimum surplus. Makes other changes.
Title
INS CD-CAPTIVE INSURERS
Sponsors
Roll Calls
2017-05-04 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-09 | Senate | Session Sine Die |
| 2018-07-02 | House | Rule 19(b) / Motion Referred to Rules Committee |
| 2018-05-18 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2018-04-11 | House | Motion Filed to Discharge Committee Executive Committee; Rep. Michael D. Unes |
| 2018-03-02 | House | Added Alternate Co-Sponsor Rep. Jay Hoffman |
| 2018-02-27 | House | Added Alternate Co-Sponsor Rep. LaToya Greenwood |
| 2018-02-14 | House | Added Alternate Co-Sponsor Rep. Thomas M. Bennett |
| 2018-02-12 | House | Assigned to Executive Committee |
| 2017-05-31 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2017-05-26 | House | Final Action Deadline Extended-9(b) May 31, 2017 |
| 2017-05-19 | House | Committee Deadline Extended-Rule 9(b) May 26, 2017 |
| 2017-05-18 | House | Added Alternate Chief Co-Sponsor Rep. Daniel V. Beiser |
| 2017-05-15 | House | Assigned to Executive Committee |
| 2017-05-09 | House | Added Alternate Chief Co-Sponsor Rep. La Shawn K. Ford |
| 2017-05-09 | House | Added Alternate Chief Co-Sponsor Rep. Camille Y. Lilly |
| 2017-05-09 | House | Added Alternate Chief Co-Sponsor Rep. Gregory Harris |
| 2017-05-09 | House | Referred to Rules Committee |
| 2017-05-09 | House | First Reading |
| 2017-05-05 | House | Chief House Sponsor Rep. Michael D. Unes |
| 2017-05-05 | House | Arrived in House |
| 2017-05-04 | Senate | Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) |
| 2017-05-04 | Senate | Third Reading - Passed; 055-000-000 |
| 2017-05-04 | Senate | Placed on Calendar Order of 3rd Reading |
| 2017-05-04 | Senate | Senate Floor Amendment No. 3 Adopted; Mulroe |
| 2017-05-04 | Senate | Senate Floor Amendment No. 1 Adopted; Mulroe |
| 2017-05-04 | Senate | Recalled to Second Reading |
| 2017-04-28 | Senate | Rule 2-10 Third Reading Deadline Established As May 31, 2017 |
| 2017-04-27 | Senate | Senate Floor Amendment No. 3 Recommend Do Adopt Insurance; 010-000-000 |
| 2017-04-27 | Senate | Senate Floor Amendment No. 2 Postponed - Insurance |
| 2017-04-25 | Senate | Senate Floor Amendment No. 3 Assignments Refers to Insurance |
| 2017-04-25 | Senate | Senate Floor Amendment No. 2 Assignments Refers to Insurance |
| 2017-04-19 | Senate | Senate Floor Amendment No. 3 Referred to Assignments |
| 2017-04-19 | Senate | Senate Floor Amendment No. 3 Filed with Secretary by Sen. John G. Mulroe |
| 2017-04-13 | Senate | Senate Floor Amendment No. 2 Referred to Assignments |
| 2017-04-13 | Senate | Senate Floor Amendment No. 2 Filed with Secretary by Sen. John G. Mulroe |
| 2017-04-06 | Senate | Added as Co-Sponsor Sen. William E. Brady |
| 2017-04-06 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Insurance; 011-000-000 |
| 2017-04-05 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Insurance |
| 2017-04-04 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 2017-04-04 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. John G. Mulroe |
| 2017-03-30 | Senate | Placed on Calendar Order of 3rd Reading April 4, 2017 |
| 2017-03-30 | Senate | Second Reading |
| 2017-03-01 | Senate | Placed on Calendar Order of 2nd Reading March 2, 2017 |
| 2017-03-01 | Senate | Do Pass Insurance; 015-000-000 |
| 2017-02-15 | Senate | Assigned to Insurance |
| 2017-02-15 | Senate | Added as Chief Co-Sponsor Sen. William R. Haine |
| 2017-02-09 | Senate | Referred to Assignments |
| 2017-02-09 | Senate | First Reading |
| 2017-02-09 | Senate | Filed with Secretary by Sen. John G. Mulroe |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 215 | 5 | 123C-1 | Amended Code | Citation Text |
| 215 | 5 | 123C-11 | Amended Code | Citation Text |
| 215 | 5 | 123C-12 | Amended Code | Citation Text |
| 215 | 5 | 123C-13 | Amended Code | Citation Text |
| 215 | 5 | 123C-16 | Amended Code | Citation Text |
| 215 | 5 | 123C-17 | Amended Code | Citation Text |
| 215 | 5 | 123C-19 | Amended Code | Citation Text |
| 215 | 5 | 123C-2 | Amended Code | Citation Text |
| 215 | 5 | 123C-23 | New Code | See Bill Text |
| 215 | 5 | 123C-24 | New Code | See Bill Text |
| 215 | 5 | 123C-25 | New Code | See Bill Text |
| 215 | 5 | 123C-26 | New Code | See Bill Text |
| 215 | 5 | 123C-27 | New Code | See Bill Text |
| 215 | 5 | 123C-28 | New Code | See Bill Text |
| 215 | 5 | 123C-3 | Amended Code | Citation Text |
| 215 | 5 | 123C-4 | Repealed Code | Citation Text |
| 215 | 5 | 123C-9 | Amended Code | Citation Text |
