REGULATION-TECH Senate SponsorsSen. Bill Cunningham House Sponsors(Rep. Thaddeus Jones-Bob Morgan) 6/9/2023SenatePublic Act . . . . . . . . . 103-0075 210 ILCS 47/1-101Amends the ID/DD Community Care Act. Makes a technical change in a Section concerning the short title.Senate Floor Amendment No. 1 Deletes reference to:210 ILCS 47/1-101Adds reference to:215 ILCS 5/408from Ch. 73, par. 1020215 ILCS 5/534.4from Ch. 73, par. 1065.84-4215 ILCS 5/Art. XLVII heading new215 ILCS 5/1701 new215 ILCS 5/1703 new215 ILCS 5/1705 new215 ILCS 5/1710 new215 ILCS 5/1715 new215 ILCS 5/1720 new215 ILCS 5/1725 new215 ILCS 5/1730 new215 ILCS 5/1735 new215 ILCS 5/1740 new215 ILCS 5/1745 new215 ILCS 5/1750 newReplaces everything after the enacting clause. Amends the Illinois Insurance Code. Changes the definition of "insolvent company" to include any company which has assumed or has been allocated a policy obligation through an approved insurance business transfer plan. Provides that the fee for filing an insurance business transfer plan is $25,000. Creates the Insurance Business Transfers Article of the Illinois Insurance Code and provides that the Article may be cited as the Insurance Business Transfers Law. Sets forth provisions concerning notice requirements, application procedure, application to a court for approval of a plan, approval and denial of insurance business transfer plans, and fees and costs. Provides that the Department of Insurance may adopt rules that are consistent with the provisions. Provides that the portion of the application for an insurance business transfer that would otherwise be confidential, including any documents, materials, communications, or other information submitted to the Director of Insurance in contemplation of an application, shall not lose such confidentiality. Provides that insurers consent to the jurisdiction of the Director with regard to ongoing oversight of operations, management, and solvency relating to the transferred business. Provides that the Director may direct the applicant to retain parties to assist Department personnel. Defines terms. Effective immediately, except specified provisions take effect January 1, 2025. 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 3/28/2023SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Bill Cunningham 3/28/2023SenateSenate Floor Amendment No. 1 Referred to Assignments 3/28/2023SenateSenate Floor Amendment No. 1 Assignments Refers to Insurance 3/28/2023SenateChief Sponsor Changed to Sen. Bill Cunningham 3/29/2023SenateSenate Floor Amendment No. 1 Recommend Do Adopt Insurance; 009-000-000 3/29/2023SenateRecalled to Second Reading 3/29/2023SenateSenate Floor Amendment No. 1 Adopted; Cunningham 3/29/2023SenatePlaced on Calendar Order of 3rd Reading 3/29/2023SenateThird Reading - Passed; 057-000-000 3/30/2023HouseArrived in House 3/30/2023HouseChief House Sponsor Rep. Emanuel "Chris" Welch 3/30/2023HouseFirst Reading 3/30/2023HouseReferred to Rules Committee 4/3/2023HouseAlternate Chief Sponsor Changed to Rep. Thaddeus Jones 4/18/2023HouseAssigned to Insurance Committee 4/21/2023HouseAdded Alternate Chief Co-Sponsor Rep. Bob Morgan 4/25/2023HouseDo Pass / Short Debate Insurance Committee; 012-000-000 4/26/2023HousePlaced on Calendar 2nd Reading - Short Debate 5/3/2023HouseSecond Reading - Short Debate 5/3/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/8/2023HouseThird Reading - Short Debate - Passed 104-000-000 5/8/2023SenatePassed Both Houses 6/6/2023SenateSent to the Governor 6/9/2023SenateGovernor Approved 6/9/2023SenateEffective Date June 9, 2023; Some Provisions 6/9/2023SenateEffective Date January 1, 2025; Some Provisions 6/9/2023SenatePublic Act . . . . . . . . . 103-0075