Illinois General Assembly - Bill Status for HB4595

Amends the Illinois Insurance Code. In the provision concerning the Illinois Workers' Compensation Commission Operations Fund surcharge, provides that after the effective date of the amendatory Act, the Director of Insurance shall make a loan of $10,000,000 to the Illinois Employers Mutual Insurance Company (the Company) from the Illinois Workers' Compensation Commission Operations Fund for the start-up funding and initial capitalization of the Company. Creates the Illinois Employers Mutual Insurance Company Article in the Code and establishes the Company as a nonprofit, independent public corporation. Provides that the Company (1) shall be operated as a domestic mutual insurance company, subject to all applicable provisions of the Code, (2) shall issue insurance for workers' compensation and occupational disease and shall not provide any other type of insurance, (3) shall not be considered a State agency or instrumentality of the State for any purpose, and (4) shall not receive any State appropriations or funds, except for an initial loan or loans. Sets forth provisions concerning a board of directors, ratemaking, the Illinois Insurance Guaranty Fund, a chief executive officer, liability, a workplace safety plan, investments, dividends, the sale of policies, auditing requirements, and an annual report. Effective immediately.

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

Date	Chamber	Action
2/6/2018	House	Filed with the Clerk by Rep. Laura Fine
2/6/2018	House	First Reading
2/6/2018	House	Referred to Rules Committee
2/21/2018	House	Assigned to Labor & Commerce Committee
3/7/2018	House	Do Pass / Short Debate Labor & Commerce Committee; 015-009-000
3/8/2018	House	Placed on Calendar 2nd Reading - Short Debate
3/8/2018	House	Added Co-Sponsor Rep. John Connor
3/8/2018	House	Added Co-Sponsor Rep. Katie Stuart
3/28/2018	House	Added Co-Sponsor Rep. Stephanie A. Kifowit
4/9/2018	House	Fiscal Note Requested by Rep. Tom Demmer
4/9/2018	House	State Mandates Fiscal Note Requested by Rep. Tom Demmer
4/10/2018	House	Second Reading - Short Debate
4/10/2018	House	Held on Calendar Order of Second Reading - Short Debate
4/13/2018	House	State Mandates Fiscal Note Filed
4/19/2018	House	Held on Calendar Order of Second Reading - Short Debate
4/24/2018	House	Second Reading - Short Debate
4/24/2018	House	Held on Calendar Order of Second Reading - Short Debate
4/26/2018	House	Fiscal Note Filed
4/26/2018	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/26/2018	House	Removed from Short Debate Status
4/26/2018	House	Placed on Calendar Order of 3rd Reading - Standard Debate
4/26/2018	House	Third Reading - Standard Debate - Passed 062-043-000
4/26/2018	House	Verified
5/1/2018	Senate	Arrive in Senate
5/1/2018	Senate	Placed on Calendar Order of First Reading
5/1/2018	Senate	Chief Senate Sponsor Sen. Daniel Biss
5/1/2018	Senate	First Reading
5/1/2018	Senate	Referred to Assignments
5/2/2018	Senate	Assigned to Judiciary
5/9/2018	Senate	Postponed - Judiciary
5/11/2018	Senate	Rule 2-10 Committee Deadline Established As May 31, 2018
5/16/2018	Senate	Postponed - Judiciary
5/22/2018	Senate	Postponed - Judiciary
5/31/2018	Senate	Rule 3-9(a) / Re-referred to Assignments
1/6/2019	Senate	Alternate Chief Sponsor Changed to Sen. John J. Cullerton
1/8/2019	House	Session Sine Die

	State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity)
	This bill does not create a State mandate.

	Fiscal Note (Dept of Insurance)
	HB 4595 requires the Department of Insurance to loan $10,000,000 from the Illinois Workers' Compensation Commission Operations Fund to the herein created Illinois Employers Mutual Insurance Company. While the bill provides that the loan be repaid within 5 years, there is no guarantee the Company will be able to maintain the requisite cash balance to repay.