Bill Text: IL SJR0014 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Urges the Illinois Congressional Delegation to pass another round of economic relief to fund the Payment Protection Program and the Business Interruption Grant Program and to pass broad-based federal solutions that address pandemic risk for Illinois businesses.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-07-16 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SJR0014 Detail]

Download: Illinois-2021-SJR0014-Introduced.html

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SJ0014 LRB102 14215 ECR 19567 r
SENATE JOINT RESOLUTION
WHEREAS, The ongoing COVID-19 pandemic has already
resulted in trillions of dollars of long-term economic losses;
and
WHEREAS, The Illinoisan business community is suffering
from hundreds of millions of dollars of economic losses; and
WHEREAS, Pandemics pose a systemic risk to the insurance
industry and the overall economy; the business interruption
loss potential from viral pandemics far exceeds the capital,
surplus, and premium resources of the private insurance
industry, making pandemic risks uninsurable in the private
market alone; and
WHEREAS, After a lengthy review of the challenges Illinois
faces with regards to pandemic risk, The Business Interruption
Insurance Task Force, including representatives from the
insurance industry, the National Association of Mutual
Insurance Companies, the American Property Casualty Insurance
Association, the Illinois Insurance Association, the Illinois
General Assembly, and the Department of Insurance, has
developed a variety of recommendations for federal solutions;
and

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WHEREAS, The Illinois Congressional Delegation is doing
incredible work on behalf of Illinois during this difficult
time; and
WHEREAS, To address the immediate financial distress of
businesses, we need another round of economic relief similar
to the CARES Act to fund the Payment Protection Program and to
provide additional aid to state governments for distribution
to small businesses through state grant programs such as the
Business Interruption Grant Program; and
WHEREAS, Illinois businesses deserve a viable option for
pandemic-related revenue replacement when the next pandemic
strikes, whether it is months or years from now; therefore, be
it
RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL
ASSEMBLY OF THE STATE OF ILLINOIS, THE HOUSE OF
REPRESENTATIVES CONCURRING HEREIN, that it is in the best
interest of Illinoisans that our congressional delegation act
swiftly to support the passage and implementation of another
round of economic relief to fund the Payment Protection
Program and to provide additional aid to state governments for
distribution to small businesses through state grant programs,
such as the Business Interruption Grant Program; and be it
further

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RESOLVED, That it is in the best interest of Illinoisans
that our congressional delegation act swiftly to support the
passage and implementation of a broad-based federal solution
that addresses pandemic risk for Illinois businesses; and be
it further
RESOLVED, That we are committed to continuing to urge our
congressional delegation to find ways to protect and educate
our business consumers, while creating an environment where a
vital and robust pandemic risk solution can emerge in
Illinois; and be it further
RESOLVED, That suitable copies of this resolution be
delivered to the President of the United States, the U.S.
Senate Majority Leader, the U.S. Senate Minority Leader, the
U.S. Speaker of the House, the U.S. House of Representatives
Minority Leader, and all members of the Illinois Congressional
Delegation.