HB3401 95TH GENERAL ASSEMBLY 






 

 		











95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB3401


 
Introduced 2/27/2007, by Rep. JoAnn D. Osmond
 
SYNOPSIS AS INTRODUCED:
 		













215 ILCS 5/462c new










    Amends the Illinois Insurance Code. Provides that if an employer fails to provide the  insurance carrier or self-insurer in which it has its workers' compensation insurance policy with reasonable access to payroll records for a payroll verification audit when requested by the insurance carrier or self-insurer, the employer shall pay a premium to the insurance carrier or self-insurer not to exceed 3 times the most recent estimated annual premium owed to the insurance carrier or self-insurer.
















LRB095 11427 KBJ 32289 b

















 


 


A BILL FOR









 











HB3401

LRB095 11427 KBJ 32289 b






1
    AN ACT concerning insurance.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Illinois Insurance Code is amended  by adding 
5
Section 462c as follows:
 
6
    (215 ILCS 5/462c  new)
7
    Sec. 462c. Workers' compensation; payroll verification; 
8
premiums. If an employer fails to provide the  insurance carrier 
9
or self-insurer in which it has its workers' compensation 
10
insurance policy with reasonable access to payroll records for 
11
a payroll verification audit when requested by the insurance 
12
carrier or self-insurer, the employer shall pay a premium to 
13
the insurance carrier or self-insurer not to exceed 3 times the 
14
most recent estimated annual premium owed to the insurance 
15
carrier or self-insurer.