Fabio
99 lines
6.6 KiB
Markdown
99 lines
6.6 KiB
Markdown
---
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type: "Bill"
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title: "INS CD-DEFERRED ANNUITIES"
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description: "Amends the Illinois Insurance Code. In provisions pertaining to the minimum values of any paid-up, cash surrender or death benefits available under an annuity contract based upon minimum nonforfeiture amounts as defined, modifies the definition determining the minimum nonforfeiture amount. Provides that the interest rate used in determining minimum nonforfeiture amounts to be an annual rate of interest determined as the lesser of 3% per annum and the following, which shall be specified in the contract if the interest rate will be reset, (i) the 5-year Constant Maturity Treasury Rate reported by the Federal Reserve, (ii) reduced by 125 basis points, (iii) the resulting interest rate is not less than 1%, and (iv) the interest rate applies for an initial period and may be redetermined for additional periods. Clarifies existing language and makes other changes. Effective July 1, 2006."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "93rd"
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identifier: "HB 5075"
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citation: "Illinois HB 5075 (93rd)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 39
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vote_count: 2
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first_action: "2004-02-05"
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last_action: "2004-08-06"
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source: "openstates"
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source_identifier: "ocd-bill/04aaadd2-918c-4364-b914-1ec760869404"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=5075&GAID=3&DocTypeID=HB&LegId=9872&SessionID=3&GA=93"
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source_hash: "92b0891eae57dcb9aa419f694622dfaeb57a949d63f281f09f66ac08a1543346"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois HB 5075 (93rd) — INS CD-DEFERRED ANNUITIES
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Amends the Illinois Insurance Code. In provisions pertaining to the minimum values of any paid-up, cash surrender or death benefits available under an annuity contract based upon minimum nonforfeiture amounts as defined, modifies the definition determining the minimum nonforfeiture amount. Provides that the interest rate used in determining minimum nonforfeiture amounts to be an annual rate of interest determined as the lesser of 3% per annum and the following, which shall be specified in the contract if the interest rate will be reset, (i) the 5-year Constant Maturity Treasury Rate reported by the Federal Reserve, (ii) reduced by 125 basis points, (iii) the resulting interest rate is not less than 1%, and (iv) the interest rate applies for an initial period and may be redetermined for additional periods. Clarifies existing language and makes other changes. Effective July 1, 2006.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB5075&GA=93&SessionId=3&DocTypeId=HB&LegID=9872&DocNum=5075&GAID=3&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB5075eng&GA=93&SessionId=3&DocTypeId=HB&LegID=9872&DocNum=5075&GAID=3&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB5075enr&GA=93&SessionId=3&DocTypeId=HB&LegID=9872&DocNum=5075&GAID=3&Session=&print=true)
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## Votes
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- Third Reading — **46–4** (pass) · upper
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- Third Reading — **116–0** (pass) · lower
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## Sponsors
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- Frank J. Mautino — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2004-02-05** Filed with the Clerk by Rep. Frank J. Mautino `filing`
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- **2004-02-05** First Reading `reading-1`
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- **2004-02-05** Referred to Rules Committee `referral-committee`
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- **2004-03-02** Assigned to Insurance Committee `referral-committee`
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- **2004-03-02** Motion to Suspend Rule 25 - Prevailed by Voice Vote
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- **2004-03-03** Do Pass / Short Debate Insurance Committee; 014-000-000 `committee-passage`
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- **2004-03-03** Placed on Calendar 2nd Reading - Short Debate
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- **2004-03-12** Fiscal Note Filed
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- **2004-03-17** House Floor Amendment No. 1 Filed with Clerk by Rep. Frank J. Mautino `amendment-introduction`
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- **2004-03-17** House Floor Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2004-03-25** House Floor Amendment No. 2 Filed with Clerk by Rep. Frank J. Mautino `amendment-introduction`
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- **2004-03-25** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
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- **2004-03-25** House Floor Amendment No. 3 Filed with Clerk by Rep. Frank J. Mautino `amendment-introduction`
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- **2004-03-25** House Floor Amendment No. 3 Referred to Rules Committee `referral-committee`
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- **2004-03-26** Added Chief Co-Sponsor Rep. Ralph C. Capparelli
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- **2004-03-29** House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
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- **2004-03-29** House Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
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- **2004-03-29** Second Reading - Short Debate `reading-2`
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- **2004-03-29** House Floor Amendment No. 1 Adopted by Voice Vote `amendment-passage`
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- **2004-03-29** House Floor Amendment No. 3 Adopted by Voice Vote `amendment-passage`
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- **2004-03-29** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2004-03-30** Third Reading - Short Debate - Passed 116-000-000 `reading-3, passage`
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- **2004-03-31** Arrive in Senate `introduction`
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- **2004-03-31** Placed on Calendar Order of First Reading April 1, 2004 `reading-1`
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- **2004-03-31** Chief Senate Sponsor Sen. Denny Jacobs
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- **2004-03-31** First Reading `reading-1`
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- **2004-03-31** Referred to Rules `referral-committee`
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- **2004-04-21** Assigned to Insurance & Pensions `referral-committee`
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- **2004-04-22** Added as Alternate Chief Co-Sponsor Sen. William E. Peterson
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- **2004-04-28** Do Pass Insurance & Pensions; 009-000-000 `committee-passage`
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- **2004-04-28** Placed on Calendar Order of 2nd Reading April 29, 2004
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- **2004-04-29** Second Reading `reading-2`
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- **2004-04-29** Placed on Calendar Order of 3rd Reading May 4, 2004
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- **2004-05-11** Third Reading - Passed; 046-004-002 `reading-3, passage`
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- **2004-05-11** Passed Both Houses
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- **2004-06-09** Sent to the Governor `executive-receipt`
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- **2004-08-06** Governor Approved `executive-signature`
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- **2004-08-06** Effective Date August 6, 2004
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- **2004-08-06** Public Act . . . . . . . . . 93-0873 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/04aaadd2-918c-4364-b914-1ec760869404`. Confidence: reported (aggregated from official Illinois legislature records).
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