Illinois General Assembly - Illinois Compiled Statutes

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215 ILCS 5/444

(215 ILCS 5/444) (from Ch. 73, par. 1056)

Sec. 444. Retaliation.

(1) Whenever the existing or future laws of any other state or country
shall
require of companies incorporated or organized under the laws of this State
as a condition precedent to their doing business in such other state or
country, compliance with laws, rules, regulations, and prohibitions more
onerous or burdensome than the rules and regulations imposed by this State
on foreign or alien companies, or shall require any deposit of securities
or other obligations in such state or country, for the protection of
policyholders or otherwise or require of such companies or agents thereof
or brokers the payment of penalties, fees, charges, or taxes greater than
the penalties, fees, charges, or taxes required in the aggregate for like
purposes by this Code or any other law of this State, of foreign or alien
companies, agents thereof or brokers, then such laws, rules, regulations,
and prohibitions of said other state or country shall apply to companies
incorporated or organized under the laws of such state or country doing
business in this State, and all such companies, agents thereof, or brokers
doing business in this State, shall be required to make deposits, pay
penalties, fees, charges, and taxes, in amounts equal to those required in
the aggregate for like purposes of Illinois companies doing business in
such state or country, agents thereof or brokers. Whenever any other state
or country shall refuse to permit any insurance company incorporated or
organized under the laws of this State to transact business according to
its usual plan in such other state or country, the director may, if
satisfied that such company of this State is solvent, properly managed, and
can operate legally under the laws of such other state or country,
forthwith suspend or cancel the license of every insurance company doing
business in this State which is incorporated or organized under the laws of
such other state or country to the extent that it insures in this State
against any of the risks or hazards which are sought to be insured against
by the company of this State in such other state or country.

(2) The provisions of this Section shall not apply to residual market
or special purpose assessments or guaranty fund or guaranty association
assessments, both under the laws of this State and under the laws of any other
state
or country, and any tax offset or credit for any such assessment shall, for
purposes of this Section, be treated as a tax paid both under the laws of this
State and under the laws of any other state or country.

(3) The terms "penalties", "fees", "charges", and "taxes" in subsection
(1) of this
Section
shall include: the penalties, fees, charges, and taxes collected on a cash basis under State
law
and
referenced within Article XXV exclusive of any items referenced by
subsection
(2) of this Section, but including any tax offset allowed under Section 531.13
of this Code; the aggregate Illinois corporate income taxes paid under Sections 601 and 803
 of the Illinois Income Tax Act during the calendar year for which the retaliatory tax calculation is being made, less the recapture of any Illinois corporate income tax cash refunds to the extent that the amount of tax refunded was reported as part of the Illinois basis in the calculation of the retaliatory tax for a prior tax year, provided that such recaptured refund shall not exceed the amount necessary for equivalence of the Illinois basis with the state of incorporation basis in such tax year, and after
any tax offset allowed under Section 531.13 of this Code;
income or personal property taxes imposed by other states or countries;
penalties, fees, charges, and taxes of other states
or countries imposed for purposes like those of the penalties, fees, charges,
and taxes
specified in Article XXV of this Code exclusive of any item referenced in
subsection (2) of this Section; and any penalties, fees, charges, and taxes
required as
a
franchise, privilege, or licensing tax for
conducting the business of insurance whether calculated as a percentage of
income, gross receipts, premium, or otherwise.

(4) Nothing contained in this Section or Section 409 or Section 444.1 is
intended to authorize or expand any power of local governmental units or
municipalities to impose taxes, fees, or charges.

(5) This Section is subject to the provisions of Section 10 of the New Markets Development Program Act.
(Source: P.A. 98-1169, eff. 1-9-15.)