PETERSON. (MOORE,ANDREA-MAUTINO) New Act Creates the Insurance Premium Tax Refund Act. Provides only a short title. SENATE AMENDMENT NO. 1. Deletes reference to: New Act Adds reference to: 30 ILCS 105/5.490 new 215 ILCS 5/412 from Ch. 73, par. 1024 Replaces everything after the enacting clause. Amends the Illinois Insurance Code. Sets forth the procedure for refunds of overpayments of taxes paid by insurance companies. Amends the State Finance Act to create the Insurance Premium Tax Refund Fund. HOUSE AMENDMENT NO. 1. Revises the procedure for paying refunds of premium tax overpayments. Provides for refunds of retaliatory taxes to be paid from the Insurance Premium Tax Refund Fund. Provides that a percentage of moneys received as taxes by the Department of Insurance shall be deposited each year into the Insurance Premium Tax Refund Fund. Provides for a continuing appropriation to pay refunds from the Fund. Effective immediately. CONFERENCE COMMITTEE REPORT NO. 1. Recommends that the Senate concur in H-am 1. Recommends that the bill be further amended as follows: Adds reference to: 35 ILCS 5/201 from Ch. 120, par. 2-201 Amends the Illinois Income Tax Act. Provides that in the case of a foreign insurer, for certain taxable years, the sum of the rates of the corporate income tax and the personal property tax replacement income tax must be reduced to the rate of tax imposed on and measured by net income by the state or country in which the insurer is domiciled. Provides that the reduction may not reduce the sum of the tax rates to an amount that causes the total amount of taxes due from a foreign insurer for any taxable year to be less than the amount of certain taxes plus 1.25% of the net taxable premiums written by the insurer. Provides that the reduction may not result in the increase of the sum of the rates of tax imposed on a foreign insurer. Sunsets the provision on January 1, 2001. 99-02-17 S FIRST READING 99-02-17 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-24 S ASSIGNED TO COMMITTEE REVENUE 99-03-04 S POSTPONED 99-03-11 S POSTPONED 99-03-18 S AMENDMENT NO. 01-REVENUE S 99-03-18 S ADOPTED 99-03-18 S DO PASS AS AMENDED 008-000-000 SREV 99-03-18 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-19 99-03-24 S SECOND READING 99-03-24 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-25 99-03-25 S THIRD READING - PASSED 059-000-000 99-03-25 H ARRIVE IN HOUSE 99-03-25 H PLACED CALENDAR ORDER OF FIRST READING 99-03-26 H HOUSE SPONSOR MOORE,ANDREA 99-03-26 H ADDED AS A JOINT SPONSOR MAUTINO 99-03-26 H FIRST READING 99-03-26 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-04-14 H ASSIGNED TO COMMITTEE INSURANCE 99-04-21 H AMENDMENT NO. 01-INSURANCE H 99-04-21 H ADOPTED 99-04-21 H DO PASS AMENDED/SHORT DEBATE 013-000-000 HINS 99-04-21 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-04-28 H SECOND READING-SHORT DEBATE 99-04-28 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-05 H THIRD READING/SHORT DEBATE/PASSED 117-000-000 99-05-06 S SECRETARYS DESK - CONCURRENCE 01 99-05-11 S FILED WITH SECRETARY 99-05-11 S MOTION NON-CONCUR - HOUSE AMENDMENT NO 01-PETERSON 99-05-14 S SEN NON-CONCURS IN HSE AMENDMENTS (NO.) 01 99-05-14 H ARRIVE IN HOUSE 99-05-14 H PLACED CALENDAR ORDER NON-CONCURRENCE 01 99-05-17 H MOTION REFUSE RECEDE - HSE AMEND NO 01/MOORE,ANDREA 99-05-17 H CALENDAR ORDER OF NON-CONCURRENCE 01 99-05-21 H HSE REFUSES TO RECEDE FROM AMENDMENT NO 01 99-05-21 H HSE REQUESTS CONFERENCE COMMITTEE 1ST 99-05-21 H HSE CONFERENCE COMMITTEE APPOINTED 1ST/CURRIE, 99-05-21 H MAUTINO, WOOLARD, 99-05-21 H TENHOUSE & BRADY 99-05-21 S SEN ACCEDE REQUEST CONFERENCE COMMITTEE 1ST 99-05-24 S SEN CONFERENCE COMMITTEE APPOINTED 1ST/PETERSON, 99-05-24 S LAUZEN, FAWELL, 99-05-24 S CLAYBORNE, WELCH 99-05-24 S FILED WITH SECRETARY 99-05-24 S CONFERENCE COMMITTEE REPORT 1ST/PETERSON 99-05-24 S CONFERENCE COMMITTEE REPORT REFERRED TO SRUL 99-05-24 S CONFERENCE COMMITTEE REPORT 1ST/PETERSON 99-05-24 S RULES REFERS TO SREV 99-05-25 H HSE CONFERENCE COMMITTEE REPORT SUBMITED 1ST/MOORE,ANDREA 99-05-25 H CONFERENCE COMMITTEE REPORT REFERRED TO HRUL 99-05-25 H RULES REFERS TO HINS 99-05-25 H RECOMMENDS BE ADOPTED 1ST/010-000-000 99-05-25 H HOUSE ADOPTED CONFERENCE REPORT 1ST/114-000-000 99-05-27 S CONFERENCE COMMITTEE REPORT 1ST/PETERSON 99-05-27 S BE APPROVED FOR CONSIDERATION SREV/009-000-000 99-05-27 S SEN CONFERENCE COMMITTEE REPORT SUBMITED 1ST/PETERSON 99-05-27 S SENATE ADOPTED CONFERENCE REPORT 1ST/058-000-001 99-05-27 S BOTH HOUSES ADOPTED CONFERENCE REPORT 1ST 99-05-27 S PASSED BOTH HOUSES 99-06-25 S SENT TO THE GOVERNOR 99-08-20 S GOVERNOR APPROVED 99-08-20 S EFFECTIVE DATE 99-08-20 99-08-20 S PUBLIC ACT.............................. 91-0643 END OF INQUIRY Full Text Bill Summary