92nd General Assembly
Status of SB1976
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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 



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