101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB3965
 
Introduced 11/13/2019, by Rep. Emanuel Chris Welch
 
SYNOPSIS AS INTRODUCED:
 

 
215 ILCS 5/155.47 new

     Amends the Illinois Insurance Code. Requires every insurance company authorized to do business in this State or accredited by this State with assets of at least $50,000,000 to submit an annual report on its voluntary supplier diversity program to the Department of Insurance. Sets forth provisions on what the report must include and how and when the report must be submitted. Provides that, for each report, the Department shall publish the results on its Internet website for 5 years after submission. Requires the Department to hold an annual insurance company supplier diversity workshop in February of 2021 and every February thereafter to discuss the reports with representatives of the insurance companies and vendors. Provides that the Department shall prepare a template for voluntary supplier diversity reports. Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB3965LRB101 15384 BMS 64599 b


  
1    AN ACT concerning regulation.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  


 
4    Section 5. The Illinois Insurance Code is amended  by adding 
5Section 155.47 as follows:
 
6    (215 ILCS 5/155.47 new)
7    Sec. 155.47. Insurance company supplier diversity report.
8    (a)   Every company authorized to do business in this State 
9or accredited by this State with assets of at least $50,000,000 
10shall submit a 2-page report on its voluntary supplier 
11diversity program to the Department. The report shall set forth 
12all of the following:
13        (1)   The name, address, phone number, and e-mail address 
14    of the point of contact for the supplier diversity program 
15    (or the company's procurement program if there is no 
16    supplier diversity program) for vendors to register with 
17    the program.
18        (2)   Local and State certifications the company accepts 
19    or recognizes for minority-owned, women-owned, or 
20    veteran-owned business status.
21        (3)   On the second page, a narrative explaining the 
22    results of the report and the tactics to be employed to 
23    achieve the goals of its voluntary supplier diversity 
 
 
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1    program.
2        (4)   The voluntary goals, if any, for the calendar year 
3    for which the report is made in each category for the 
4    entire budget of the company and the commodity codes or a 
5    description of particular goods and services for the area 
6    of procurement in which the company expects most of those 
7    goals to focus on in that year.
8    Each company is required to submit a searchable report, in 
9Portable Document Format (PDF), to the Department on or before 
10November 15, 2020, and on or before November 15 every year 
11thereafter, for the upcoming calendar year.
12    (b)   For each report submitted under subsection (a) of this 
13Section, the Department shall publish the results on its 
14Internet website for 5 years after submission. The Department 
15is not responsible for collecting the reports or for the 
16content of the reports.
17    (c)   The Department shall hold an annual insurance company 
18supplier diversity workshop in February of 2021 and every 
19February thereafter to discuss the reports with 
20representatives of the companies and vendors.
21    (d)   The Department shall prepare a one-page template (not 
22including the narrative section) for the voluntary supplier 
23diversity reports.
24    (e)    The Department may adopt such rules as it deems 
25necessary to implement this Section.

 
26    Section 99. Effective date. This Act takes effect upon 
 
 
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1becoming law.