INS CD-VALUATION OF POLICIES Senate SponsorsSen. William R. Haine-Pamela J. Althoff House Sponsors(Rep. Frank J. Mautino-John Bradley-Robert Rita and David B. Reis) 7/28/2015SenatePublic Act . . . . . . . . . 99-0162 215 ILCS 5/223from Ch. 73, par. 835215 ILCS 5/229.2from Ch. 73, par. 841.2Amends the Illinois Insurance Code. Specifies that the requirement that the Director annually value, or cause to be valued, the reserve liabilities for all outstanding life insurance policies and annuity and pure endowment contracts of every life insurance company doing business in the State applies to policies and contracts issued prior to the operative date of the Valuation Manual. Specifies that the requirement that the Director annually value, or cause to be valued, the reserve liabilities for all outstanding life insurance contracts, annuity and pure endowment contracts, accident and health contracts, and deposit-type contracts of every company issued on or after the operative date of the Valuation Manual applies to policies and contracts issued on or after the operative date of the Valuation Manual. Makes technical and grammatical changes.Senate Committee Amendment No. 2 Allows the Director of Insurance to adopt rules allowing disciplinary actions against a company or appointed actuary in connection with actuarial opinions of reserves after the operative date of the Valuation Manual. Removes provisions exempting certain domestic companies with less than $300,000,000 of ordinary life insurance premiums from certain requirements concerning the Valuation Manual. Makes technical and grammatical changes. 1/28/2015SenateFiled with Secretary by Sen. William R. Haine 1/28/2015SenateFirst Reading 1/28/2015SenateReferred to Assignments 2/11/2015SenateAssigned to Insurance 2/25/2015SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff 3/10/2015SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine 3/10/2015SenateSenate Committee Amendment No. 1 Referred to Assignments 3/17/2015SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. William R. Haine 3/17/2015SenateSenate Committee Amendment No. 2 Referred to Assignments 3/17/2015SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance 3/18/2015SenateSenate Committee Amendment No. 2 Assignments Refers to Insurance 3/18/2015SenateSenate Committee Amendment No. 2 Adopted 3/19/2015SenateDo Pass as Amended Insurance; 011-000-000 3/19/2015SenatePlaced on Calendar Order of 2nd Reading March 24, 2015 3/24/2015SenateSecond Reading 3/24/2015SenatePlaced on Calendar Order of 3rd Reading March 25, 2015 3/26/2015SenateThird Reading - Passed; 053-000-000 3/26/2015SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a) 3/27/2015HouseArrived in House 3/27/2015HouseChief House Sponsor Rep. Frank J. Mautino 4/14/2015HouseFirst Reading 4/14/2015HouseReferred to Rules Committee 4/15/2015HouseAdded Alternate Chief Co-Sponsor Rep. John Bradley 4/27/2015HouseAssigned to Insurance Committee 4/27/2015HouseAdded Alternate Chief Co-Sponsor Rep. Robert Rita 5/8/2015HouseCommittee Deadline Extended-Rule 9(b) May 15, 2015 5/12/2015HouseDo Pass / Short Debate Insurance Committee; 015-000-000 5/13/2015HousePlaced on Calendar 2nd Reading - Short Debate 5/19/2015HouseAdded Alternate Co-Sponsor Rep. David B. Reis 5/19/2015HouseSecond Reading - Short Debate 5/19/2015HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/20/2015HouseThird Reading - Short Debate - Passed 114-000-000 5/20/2015SenatePassed Both Houses 6/18/2015SenateSent to the Governor 7/28/2015SenateGovernor Approved 7/28/2015SenateEffective Date January 1, 2016 7/28/2015SenatePublic Act . . . . . . . . . 99-0162