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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB5555 Introduced 2/15/2012, by Rep. Lisa M. Dugan SYNOPSIS AS INTRODUCED:
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Amends the Illinois Vehicle Code. Provides that every insurance company or surety company authorized to do business in this State shall collect a surcharge of $1 for each liability insurance policy issued which complies with statutory minimum coverage requirements.
Provides that the surcharge shall be deposited into the into the Illinois Law Enforcement Alarm Systems Fund and used as follows: (i) 66.6% shall be used for homeland security initiatives and (ii) 33.3% shall be used for airborne operations. Provides that Illinois Law Enforcement Alarm Systems Executive Board shall annually supply the Director of State Police with a report of the use of the surcharges. Exempts units of government and nonprofit organizations from the new provisions. Effective January 1, 2013.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB5555 | | LRB097 19112 HEP 65572 b |
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| 1 | | AN ACT concerning transportation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Vehicle Code is amended by adding |
| 5 | | Section 7-601.5 as follows:
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| 6 | | (625 ILCS 5/7-601.5 new) |
| 7 | | Sec. 7-601.5. Illinois Law Enforcement Alarm Systems |
| 8 | | insurance surcharge. |
| 9 | | (a) Every insurance company or surety company authorized to |
| 10 | | do business in this State shall collect a surcharge of $1 for |
| 11 | | each liability insurance policy issued in accordance with |
| 12 | | Section 7-601 of this Code.
The surcharge shall be collected at |
| 13 | | the same time and in the same manner that the premium or other |
| 14 | | charge for the insurance coverage is collected. |
| 15 | | (b) Each month, the insurer shall remit all surcharge |
| 16 | | moneys collected to the Treasurer for deposit into the Illinois |
| 17 | | Law Enforcement Alarm Systems Fund. |
| 18 | | (c) Moneys deposited into the Illinois Law Enforcement |
| 19 | | Alarm Systems Fund under this Section shall be allocated, |
| 20 | | subject to the approval of the Illinois Law Enforcement Alarm |
| 21 | | Systems Executive Board, as follows: (i) 66.6% shall be used |
| 22 | | for homeland security initiatives and (ii) 33.3% shall be used |
| 23 | | for airborne operations. The Illinois Law Enforcement Alarm |