Illinois General Assembly - Bill Status for SB1571

Amends the Illinois Municipal Code. Provides that the fee that must be paid to a foreign fire insurance board by a corporation, company, or association that is not incorporated under the laws of the State and which is engaged in effecting fire insurance in the municipality or fire protection district shall be 2% of the gross receipts received from fire insurance upon property situated within the municipality or district (rather than a sum not exceeding 2%). Allows a foreign fire insurance board aggrieved by a violation relating to foreign fire insurance board fees to file suit. Provides that a department foreign fire insurance board may: (i) establish, manage, and maintain an account for the holding and expenditure of all funds paid to the board; (ii) contract for the purchase of goods and services; and (iii) sue all parties necessary to enforce its rights. Limits home rule powers. Makes other changes. Effective immediately.

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: Provides that the Foreign Fire Insurance Company Fees Division may be cited as the Foreign Fire Insurance License Fee Act. Provides that a license fee may be recovered from a third party. Provides that a foreign fire insurance board's or board secretary's designee may examine the books, records, and other papers for verification purposes. Provides that the provisions are applicable to receipts from contracts of marine fire insurance (rather than the entire Section shall not be applicable to receipts from contracts of marine insurance). Provides that the board may elect other officers, in addition to a chairman and treasurer, deemed necessary by the board. Strikes provisions concerning the treasurer giving bond to the municipality in which the fire department is organized. Provides that, in the contracting for the purchase of services using funds paid to the board, services may include, but are not limited to, the procurement and payment of all accounting, legal, collection, or other professional services deemed by the board to be necessary to the execution of its duties under the Division. Provides that binding arbitration is the exclusive method to solve disputes between a fire chief and the remaining members of a foreign fire insurance board concerning whether any expenditure of funds by the board is for the maintenance, use, or benefit of the department or for any other purpose authorized by the Division. Adds provisions concerning collection of licensing fees. Makes other changes. Effective January 1, 2023 (rather than effective immediately).

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