Illinois General Assembly - Bill Status for SB0765
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 Bill Status of SB0765  103rd General Assembly

Short Description:  REGULATION-TECH

Senate Sponsors
Sen. Napoleon Harris, III - Michael W. Halpin - Bill Cunningham - Neil Anderson, Dave Syverson, Sue Rezin, Andrew S. Chesney, Doris Turner, Dan McConchie, John F. Curran, Win Stoller, Chapin Rose, Linda Holmes, Sally J. Turner, Paul Faraci, Javier L. Cervantes, Mary Edly-Allen, Adriane Johnson, Jil Tracy, Rachel Ventura, Jason Plummer, Dale Fowler, Patrick J. Joyce and David Koehler

House Sponsors
(Rep. Thaddeus Jones - Bob Morgan - Jeff Keicher - Rita Mayfield - Jay Hoffman, Lawrence "Larry" Walsh, Jr., Joe C. Sosnowski, Ryan Spain, Dan Swanson, Jonathan Carroll, Anthony DeLuca, Norine K. Hammond, Tony M. McCombie, Travis Weaver, Elizabeth "Lisa" Hernandez, Natalie A. Manley, Dagmara Avelar, Fred Crespo, Suzanne M. Ness, Katie Stuart, Kelly M. Cassidy, Dave Vella, Jennifer Gong-Gershowitz, Lance Yednock, Anne Stava-Murray, Charles Meier, Kevin Schmidt, Amy Elik, Abdelnasser Rashid, Michael J. Kelly, Camille Y. Lilly, John M. Cabello, Christopher "C.D." Davidsmeyer, Michael J. Coffey, Jr., Brad Stephens, Dan Ugaste, Stephanie A. Kifowit, Sue Scherer, Mary Gill, Randy E. Frese and Matt Hanson)

Last Action
DateChamber Action
  11/17/2023SenatePublic Act . . . . . . . . . 103-0566

Statutes Amended In Order of Appearance
215 ILCS 105/1from Ch. 73, par. 1301


Synopsis As Introduced
Amends the Comprehensive Health Insurance Plan Act. Makes a technical change in a Section concerning the short title.

Senate Floor Amendment No. 1
Deletes reference to:
215 ILCS 105/1
Adds reference to:
215 ILCS 120/10from Ch. 73, par. 1260

Replaces everything after the enacting clause. Amends the Farm Mutual Insurance Company Act of 1986. Provides that, until the date that is 5 years after the effective date of the amendatory Act, a farm mutual insurance company insuring against the perils of wind or hail must have and maintain adequate catastrophic reinsurance (instead of catastrophic reinsurance which limits the company's exposure on any one loss occurrence to 20% of its policyholders' surplus). Defines "adequate catastrophic reinsurance" as reinsurance in an amount no less than that required for a 500-year event, based on an actuarially sound catastrophe model that limits the company's exposure on any one loss occurrence to (i) 20% of its policyholders' surplus or (ii) an amount authorized by the Director of Insurance. Provides that a farm mutual insurance company must additionally have and maintain aggregate reinsurance coverage in an amount no less than that required for a 250-year event, based on an actuarially sound catastrophe model. Provides that the reinsurance permitted or required under the provisions must be provided by (i) a farm mutual insurance company, (ii) an insurance company authorized to write the kinds of insurance described in the Illinois Insurance Code pertaining to casualty, fidelity, surety, fire, marine, and other types of insurance, or (iii) a reinsurer and reinsurance program meeting the standards set forth in the Illinois Insurance Code that permit a domestic company to take credit for reinsurance. Requires a farm mutual insurance company converting from unlimited catastrophic reinsurance to adequate catastrophic reinsurance to provide notice of the change to policyholders in a form approved by the Director of Insurance. Provides that the provisions of the amendatory Act become inoperative on and after the date that is 5 years after the effective date of the amendatory Act. Effective immediately.

Actions 
DateChamber Action
  2/2/2023SenateFiled with Secretary by Sen. Don Harmon
  2/2/2023SenateFirst Reading
  2/2/2023SenateReferred to Assignments
  3/2/2023SenateAssigned to Executive
  3/9/2023SenateDo Pass Executive; 011-000-000
  3/9/2023SenatePlaced on Calendar Order of 2nd Reading March 10, 2023
  3/10/2023SenateSecond Reading
  3/10/2023SenatePlaced on Calendar Order of 3rd Reading March 21, 2023
  3/31/2023SenateRule 3-9(a) / Re-referred to Assignments
  10/18/2023SenateApproved for Consideration Assignments
  10/18/2023SenatePlaced on Calendar Order of 3rd Reading October 24, 2023
  10/25/2023SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
  10/25/2023SenateSenate Floor Amendment No. 1 Referred to Assignments
  10/25/2023SenateChief Sponsor Changed to Sen. Napoleon Harris, III
  10/25/2023SenateAdded as Co-Sponsor Sen. Dave Syverson
  10/25/2023SenateSenate Floor Amendment No. 1 Assignments Refers to Executive
  10/25/2023SenateAdded as Co-Sponsor Sen. Sue Rezin
  10/25/2023SenateAdded as Co-Sponsor Sen. Andrew S. Chesney
  10/25/2023SenateAdded as Co-Sponsor Sen. Doris Turner
  10/25/2023SenateAdded as Co-Sponsor Sen. Dan McConchie
  10/25/2023SenateAdded as Co-Sponsor Sen. John F. Curran
  10/25/2023SenateAdded as Chief Co-Sponsor Sen. Michael W. Halpin
  10/26/2023SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 011-000-000
  10/26/2023SenateAdded as Chief Co-Sponsor Sen. Bill Cunningham
  10/26/2023SenateAdded as Co-Sponsor Sen. Win Stoller
  10/26/2023SenateRecalled to Second Reading
  10/26/2023SenateSenate Floor Amendment No. 1 Adopted; Cunningham
  10/26/2023SenatePlaced on Calendar Order of 3rd Reading
  10/26/2023Senate3/5 Vote Required
  10/26/2023SenateThird Reading - Passed; 056-000-000
  10/26/2023SenateAdded as Co-Sponsor Sen. Chapin Rose
  10/26/2023SenateAdded as Co-Sponsor Sen. Linda Holmes
  10/26/2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
  10/26/2023SenateAdded as Co-Sponsor Sen. Paul Faraci
  10/26/2023SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
  10/26/2023SenateAdded as Co-Sponsor Sen. Mary Edly-Allen
  10/26/2023SenateAdded as Co-Sponsor Sen. Adriane Johnson
  10/26/2023SenateAdded as Co-Sponsor Sen. Jil Tracy
  10/26/2023SenateAdded as Co-Sponsor Sen. Rachel Ventura
  10/26/2023SenateAdded as Co-Sponsor Sen. Jason Plummer
  10/26/2023SenateAdded as Co-Sponsor Sen. Dale Fowler
  10/26/2023HouseArrived in House
  10/26/2023HouseChief House Sponsor Rep. Emanuel "Chris" Welch
  10/30/2023SenateAdded as Chief Co-Sponsor Sen. Neil Anderson
  10/31/2023HouseAlternate Chief Sponsor Changed to Rep. Thaddeus Jones
  11/1/2023HouseFirst Reading
  11/1/2023HouseReferred to Rules Committee
  11/1/2023HouseAssigned to Insurance Committee
  11/3/2023HouseAdded Alternate Chief Co-Sponsor Rep. Bob Morgan
  11/3/2023HouseAdded Alternate Chief Co-Sponsor Rep. Jeff Keicher
  11/3/2023HouseAdded Alternate Chief Co-Sponsor Rep. Rita Mayfield
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Lawrence "Larry" Walsh, Jr.
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Joe C. Sosnowski
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Ryan Spain
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Dan Swanson
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Jonathan Carroll
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Anthony DeLuca
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Norine K. Hammond
  11/3/2023HouseAdded Alternate Co-Sponsor Rep. Jay Hoffman
  11/6/2023HouseAdded Alternate Co-Sponsor Rep. Tony M. McCombie
  11/6/2023HouseAdded Alternate Co-Sponsor Rep. Travis Weaver
  11/6/2023HouseAlternate Co-Sponsor Removed Rep. Jay Hoffman
  11/6/2023HouseAdded Alternate Chief Co-Sponsor Rep. Jay Hoffman
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Natalie A. Manley
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Dagmara Avelar
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Fred Crespo
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Suzanne M. Ness
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Katie Stuart
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Kelly M. Cassidy
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Dave Vella
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Jennifer Gong-Gershowitz
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Lance Yednock
  11/7/2023HouseAdded Alternate Co-Sponsor Rep. Anne Stava-Murray
  11/7/2023HouseDo Pass / Short Debate Insurance Committee; 012-000-000
  11/7/2023HouseSecond Reading - Short Debate
  11/7/2023HouseHeld on Calendar Order of Second Reading - Short Debate
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Charles Meier
  11/8/2023House3/5 Vote Required
  11/8/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate
  11/8/2023HouseThird Reading - Short Debate - Passed 114-000-000
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Kevin Schmidt
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Amy Elik
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Abdelnasser Rashid
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Michael J. Kelly
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Camille Y. Lilly
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. John M. Cabello
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Christopher "C.D." Davidsmeyer
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Michael J. Coffey, Jr.
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Brad Stephens
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Dan Ugaste
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Stephanie A. Kifowit
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Sue Scherer
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Mary Gill
  11/8/2023HouseAdded Alternate Co-Sponsor Rep. Randy E. Frese
  11/8/2023SenatePassed Both Houses
  11/15/2023SenateSent to the Governor
  11/17/2023SenateAdded as Co-Sponsor Sen. Patrick J. Joyce
  11/17/2023SenateAdded as Co-Sponsor Sen. David Koehler
  11/17/2023SenateGovernor Approved
  11/17/2023SenateEffective Date November 17, 2023
  11/17/2023SenatePublic Act . . . . . . . . . 103-0566

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