Bill Text: IL SB1824 | 2011-2012 | 97th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Marriage and Dissolution of Marriage Act. Provides that life insurance benefits deemed to be marital property must be allocated equitably between the parties by the court. Provides that a maintenance award ordered by a court may be secured by existing or court-ordered life insurance and, if applicable, that a judgment shall expressly set forth that payments for such insurance are excludable under the Internal Revenue Code from the gross income of the maintenance payee. Provides that in determining an award for child support, net income does not include life insurance premiums for life insurance ordered by the court to secure child support or maintenance. Provides that upon death of either party or remarriage of the party receiving maintenance, any obligation under the new provisions is terminated without a prior inconsistent agreement between the parties.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2011-08-26 - Public Act . . . . . . . . . 97-0608 [SB1824 Detail]
Download: Illinois-2011-SB1824-Amended.html
Bill Title: Amends the Illinois Marriage and Dissolution of Marriage Act. Provides that life insurance benefits deemed to be marital property must be allocated equitably between the parties by the court. Provides that a maintenance award ordered by a court may be secured by existing or court-ordered life insurance and, if applicable, that a judgment shall expressly set forth that payments for such insurance are excludable under the Internal Revenue Code from the gross income of the maintenance payee. Provides that in determining an award for child support, net income does not include life insurance premiums for life insurance ordered by the court to secure child support or maintenance. Provides that upon death of either party or remarriage of the party receiving maintenance, any obligation under the new provisions is terminated without a prior inconsistent agreement between the parties.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2011-08-26 - Public Act . . . . . . . . . 97-0608 [SB1824 Detail]
Download: Illinois-2011-SB1824-Amended.html
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| 1 | AMENDMENT TO SENATE BILL 1824
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 1824 on page 13, | ||||||
| 3 | line 25, after "court", by inserting the following:
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| 4 | "upon entry of a dissolution judgment or upon entry of an award | ||||||
| 5 | of maintenance following a reservation of maintenance in a | ||||||
| 6 | dissolution judgment"; and
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| 7 | on page 14, by replacing line 24 with the following:
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| 8 | "insurance.
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| 9 | In determining the maximum level of death benefit coverage, the | ||||||
| 10 | court shall take into account all relevant facts and | ||||||
| 11 | circumstances, including the impact on access to life insurance | ||||||
| 12 | by the maintenance payor. If in resolving any issues under | ||||||
| 13 | paragraph (2) of this subsection (f) a court reviews any | ||||||
| 14 | submitted or proposed application for new insurance on the life | ||||||
| 15 | of a maintenance payor, the review shall be in camera.".
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