|
| | HB3349 Engrossed | | LRB098 09295 JDS 39435 b |
|
|
1 | | AN ACT concerning safety.
|
2 | | Be it enacted by the People of the State of Illinois,
|
3 | | represented in the General Assembly:
|
4 | | Section 5. The Drycleaner Environmental Response Trust |
5 | | Fund Act is amended by changing Section 45 as follows:
|
6 | | (415 ILCS 135/45)
|
7 | | Sec. 45. Insurance account.
|
8 | | (a) The insurance account shall offer financial assurance |
9 | | for a qualified
owner
or operator of a drycleaning facility |
10 | | under the terms and conditions provided
for under this Section. |
11 | | Coverage may be provided to either the owner or the
operator of |
12 | | a drycleaning facility. The
Council is not required to resolve |
13 | | whether the owner or operator, or both,
are responsible for a |
14 | | release under the terms of an agreement between
the owner and |
15 | | operator.
|
16 | | (b) The source of funds for the insurance account shall be |
17 | | as follows:
|
18 | | (1) Moneys appropriated to the Council or moneys |
19 | | allocated to the
insurance
account by the Council according |
20 | | to the Fund budget approved by the
Council.
|
21 | | (2) Moneys collected as an insurance premium, |
22 | | including service fees, if
any.
|
23 | | (3) Investment income attributed to the insurance |
|
| | HB3349 Engrossed | - 2 - | LRB098 09295 JDS 39435 b |
|
|
1 | | account by the Council.
|
2 | | (c) An owner or operator may purchase
coverage of up to |
3 | | $500,000 per drycleaning facility subject to the terms and
|
4 | | conditions under this Section and those adopted by the Council. |
5 | | Coverage
shall be limited to remedial action costs associated |
6 | | with soil and
groundwater contamination resulting from a |
7 | | release of drycleaning solvent
at an insured drycleaning |
8 | | facility, including third-party liability for soil
and |
9 | | groundwater contamination. Coverage is not provided for a |
10 | | release
that occurred before the date of coverage.
|
11 | | (d) An
owner or operator, subject to underwriting |
12 | | requirements and terms
and conditions deemed necessary and |
13 | | convenient by the Council, may
purchase insurance coverage from |
14 | | the insurance account provided that
the drycleaning facility to |
15 | | be insured meets the following conditions:
|
16 | | (1) a site investigation designed to identify soil and
|
17 | | groundwater contamination resulting from the release
of a |
18 | | drycleaning solvent has been completed. The Council shall |
19 | | determine if the
site
investigation is adequate. This |
20 | | investigation must be completed by
June 30, 2006. For |
21 | | drycleaning facilities that
apply for insurance coverage |
22 | | after
June 30, 2006, the site investigation must be
|
23 | | completed prior to
issuance of insurance coverage; and
|
24 | | (2) the drycleaning facility
is participating in and |
25 | | meets all requirements of a
drycleaning compliance program |
26 | | approved by the Council.
|
|
| | HB3349 Engrossed | - 3 - | LRB098 09295 JDS 39435 b |
|
|
1 | | (e) The annual premium for insurance coverage shall be:
|
2 | | (1) For the year July 1, 1999 through June 30,
2000, |
3 | | $250
per drycleaning facility.
|
4 | | (2) For the year July 1, 2000 through
June 30, 2001, |
5 | | $375
per drycleaning facility.
|
6 | | (3) For the year July 1, 2001 through
June 30, 2002, |
7 | | $500
per drycleaning facility.
|
8 | | (4) For the year July 1, 2002 through
June 30, 2003, |
9 | | $625
per drycleaning facility.
|
10 | | (5) For subsequent years, an owner or operator applying |
11 | | for
coverage shall pay an annual actuarially-sound |
12 | | insurance premium
for coverage by the insurance account. |
13 | | The Council may approve
Fund coverage through the payment |
14 | | of a premium established on
an actuarially-sound basis, |
15 | | taking into consideration the risk to the
insurance account |
16 | | presented by the insured.
Risk factor adjustments utilized |
17 | | to determine actuarially-sound
insurance premiums should |
18 | | reflect the range of risk presented by
the variety of |
19 | | drycleaning systems, monitoring systems, drycleaning
|
20 | | volume, risk management practices, and other factors as
|
21 | | determined by the Council. As used in this item, |
22 | | "actuarially sound" is not
limited to Fund premium revenue |
23 | | equaling or exceeding Fund
expenditures for the general |
24 | | drycleaning facility population.
Actuarially-determined |
25 | | premiums shall be published at least 180
days prior to the |
26 | | premiums becoming effective.
|
|
| | HB3349 Engrossed | - 4 - | LRB098 09295 JDS 39435 b |
|
|
1 | | (e-5) If the coverage of an active drycleaning facility |
2 | | owner or operator under the insurance account ceases for a |
3 | | reason other than the submittal of a claim on that account or |
4 | | the existence of an emergency or emergency action, as defined |
5 | | in Section 5 of this Act, then the active drycleaning facility |
6 | | owner or operator may re-enroll in the program of coverage |
7 | | provided through the account by paying the full annual premium |
8 | | calculated using the same risk basis as on the date that the |
9 | | owner or operator was last covered under the account and a 20% |
10 | | late fee. |
11 | | (f) If coverage is purchased for any part of a year, the |
12 | | purchaser shall pay
the full annual premium. The insurance |
13 | | premium is fully earned upon issuance
of the insurance policy.
|
14 | | (g) The insurance coverage shall be provided with a
$10,000 |
15 | | deductible policy.
|
16 | | (h) A future repeal of this Section shall not terminate
the
|
17 | | obligations under this Section or authority necessary to |
18 | | administer the
obligations until the obligations are |
19 | | satisfied, including but not limited to
the payment of claims |
20 | | filed prior
to the effective date of any future repeal against |
21 | | the insurance account until
moneys in the account are |
22 | | exhausted. Upon exhaustion of the
moneys in the account, any |
23 | | remaining claims shall be invalid. If moneys remain
in the |
24 | | account following
satisfaction of the obligations under this |
25 | | Section,
the remaining moneys and moneys due the account shall |
26 | | be
used to assist current insureds to obtain a viable insuring |