Illinois Senate Bill 1521 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Insurance Code in the Article concerning workers' compensation and employer's liability rates. Provides that if the application of incorrect classifications, payrolls, or any other factors of a rating system results in the payment by an insured of premiums in excess of the premiums that would have been paid utilizing the correct applications of classifications, payrolls, or other factors of a rating system, the insurer shall pay 5% interest on the excessive premium paid from the date of inception of the workers' compensation policy on which the excessive premium was paid through the date on which the insurer refunds the excessive premium paid. Provides that the Director of Insurance shall have the authority to award the interest. Effective immediately.

INS CD-EXCESSIVE PREMIUM PAID

Sen. Heather Steans [D]

Date	Chamber	Action
2015-01-13	Senate	Session Sine Die
2013-03-22	Senate	Rule 3-9(a) / Re-referred to Assignments
2013-03-13	Senate	To Subcommittee on Special Issues (LC)
2013-03-06	Senate	Postponed - Labor and Commerce
2013-02-27	Senate	Assigned to Labor and Commerce
2013-02-13	Senate	Referred to Assignments
2013-02-13	Senate	First Reading
2013-02-13	Senate	Filed with Secretary by Sen. Heather A. Steans

Chapter	Article	Section	Citation Type	Statute Text
215	5	462b	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1521&GAID=12&DocTypeID=SB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/SB/09800SB1521.htm