PETERSON AND CULLERTON. (BRUNSVOLD) 215 ILCS 5/229.4 from Ch. 73, par. 841.4 Amends the Illinois Insurance Code. Provides that from July 1, 2002 until July 1, 2005 the rate of interest used in calculating minimum nonforfeiture amounts for certain contracts shall be 1.5%, rather than 3%, per year. Effective July 1, 2002. FISCAL NOTE (Department of Insurance) SB 1976 would create no fiscal impact on the Department. HOUSE AMENDMENT NO. 1. Deletes reference to: 215 ILCS 5/229.4 Adds reference to: 215 ILCS 5/205 from Ch. 73, par. 817 215 ILCS 5/226.1 from Ch. 73, par. 838.1 Replaces the title and everything after the enacting clause. Amends the Illinois Insurance Code. Provides that claims against an insolvent company's estate by policyholders, beneficiaries, and insureds under funding agreements shall have the same priority as claims under insurance policies and annuities. Provides that funding agreements may be issued without a life contingency annuity payment option on the same basis as annuity contracts. Effective immediately. FEB-06-2002 S FIRST READING FEB-06-2002 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-27-2002 S ASSIGNED TO COMMITTEE INS & PENS. FEB-27-2002 S ADDED AS A CO-SPONSOR CULLERTON MAR-05-2002 S DO PASS 006-000-000 SINS MAR-05-2002 S PLACED ON CALENDAR ORDER OF 2ND READING 02-03-06 MAR-06-2002 S SECOND READING MAR-06-2002 S PLACED ON CALENDAR ORDER OF 3RD READING 02-03-07 MAR-07-2002 S THIRD READING - PASSED 053-000-000 MAR-07-2002 H ARRIVE IN HOUSE MAR-07-2002 H PLACED CALENDAR ORDER OF FIRST READING MAR-08-2002 H HOUSE SPONSOR BRUNSVOLD MAR-13-2002 H FIRST READING MAR-13-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-09-2002 H ASSIGNED TO COMMITTEE INSURANCE APR-10-2002 H FISCAL NOTE FILED APR-10-2002 H COMMITTEE INSURANCE APR-17-2002 H DO PASS/SHORT DEBATE 011-000-000 HINS APR-17-2002 H PLACED CALENDAR 2ND READING-SHORT DEBATE APR-18-2002 H SECOND READING-SHORT DEBATE APR-18-2002 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAY-02-2002 H 3RD RDG. DEADLINE EXTENDED-RULE 9(B) TO 05/17/02 MAY-02-2002 H CALENDAR ORDER 3RD READING-SHORT DEBATE MAY-15-2002 H 3RD RDG/PASSAGE DEADLINE EXTENDED-RULE 9(B) TO 5/31/02 MAY-15-2002 H CALENDAR ORDER 3RD READING-SHORT DEBATE MAY-21-2002 H RECALLED TO SECOND READING-SHORT DEBATE MAY-21-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE MAY-31-2002 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL DEC-03-2002 H APPROVED FOR CONSIDERATION 003-000-000 HRUL DEC-03-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE DEC-03-2002 H AMENDMENT NO. 01-BRUNSVOLD DEC-03-2002 H AMENDMENT REFERRED TO HRUL DEC-03-2002 H RULES REFERS TO HINS DEC-03-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE DEC-04-2002 H AMENDMENT NO. 01-BRUNSVOLD DEC-04-2002 H RECOMMENDS BE ADOPTED HINS/008-000-000 DEC-04-2002 H AMENDMENT NO. 01-BRUNSVOLD DEC-04-2002 H ADOPTED DEC-04-2002 H PLCD CAL ORDER 3RD READING-SHORT DEBATE DEC-04-2002 H THIRD READING/SHORT DEBATE/PASSED 115-000-000 DEC-05-2002 S SECRETARYS DESK - CONCURRENCE 01 DEC-05-2002 S FILED WITH SECRETARY DEC-05-2002 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/PETERSON DEC-05-2002 S MOTION REFERRED TO SRUL DEC-05-2002 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/PETERSON DEC-05-2002 S MOTION TO CONCUR REFERRED TO SEXC DEC-05-2002 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/PETERSON DEC-05-2002 S BE ADOPTED SEXC/013-000-000 DEC-05-2002 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/PETERSON DEC-05-2002 S 3/5 VOTE REQUIRED DEC-05-2002 S SEN CONCURS IN HSE AMENDMENTS (NO.) 01/056-000-002 DEC-05-2002 S PASSED BOTH HOUSES DEC-12-2002 S SENT TO THE GOVERNOR JAN-03-2003 S GOVERNOR APPROVED JAN-03-2003 S EFFECTIVE DATE 03-01-03 JAN-03-2003 S PUBLIC ACT.............................. 92-0875 END OF INQUIRY Full Text Bill Summary