Date	Chamber	Action
1/8/2019	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

30 ILCS 105/5.878 new

Synopsis As Introduced
Creates the Insurance Premium Tax Act. Imposes a tax on each authorized domestic, foreign, or alien insurer engaged in the business of entering into contracts of insurance or annuity in the State in an amount equal to 1.3% of the premiums and fees charged for those insurance policies. Provides that the proceeds from the tax shall be deposited into the Flood Catastrophe Fund and shall be used by the Department of Insurance for the purpose of providing reimbursement to insurers for a portion of their catastrophic losses due to flooding. Amends the State Finance Act to create the Flood Catastrophe Fund. Effective immediately.

Actions 

Date	Chamber	Action
2/9/2017	House	Filed with the Clerk by Rep. Elizabeth Hernandez
2/9/2017	House	First Reading
2/9/2017	House	Referred to Rules Committee
2/22/2017	House	Assigned to Insurance: Property & Casualty Committee
3/31/2017	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2019	House	Session Sine Die

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