Fabio
103 lines
7.1 KiB
Markdown
103 lines
7.1 KiB
Markdown
---
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type: "Bill"
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title: "INS CD-INSURER INVESTMENTS"
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description: "Amends the Illinois Insurance Code. Provides that subject to the restrictions provided in the Article concerning life and health insurers, an insurer may invest in bonds, notes, warrants, and other securities not in default that are the direct obligations of the government of any foreign country that is a member of the Organisation for Economic Co-operation and Development (OECD) and for which the full faith and credit of such government has been pledged for the payment of principal and interest, provided that (i) the debt of the issuing country has been rated as investment grade for at least 10 years immediately before the time of acquiring the obligations by at least 2 of the major ratings agencies, including Moody's Investors Service, Standard & Poor's Rating Services, Fitch Rating, and the Securities Valuation Office of the National Association of Insurance Commissioners and (ii) the issuing country has not defaulted and has met its payment obligations in a timely manner on all similar obligations for a period of at least 30 years immediately before the time of acquiring the obligations."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "98th"
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identifier: "HB 1571"
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citation: "Illinois HB 1571 (98th)"
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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: 42
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vote_count: 2
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first_action: "2013-02-13"
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last_action: "2013-07-26"
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source: "openstates"
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source_identifier: "ocd-bill/9bc57af2-ee24-406d-a97a-dc0dd573531e"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1571&GAID=12&DocTypeID=HB&LegId=72631&SessionID=85&GA=98"
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source_hash: "59870f804376ae2a2d879365fac98aef41c1ab3e5f8ee5b2bb1d1b4568b253f1"
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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 1571 (98th) — INS CD-INSURER INVESTMENTS
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Amends the Illinois Insurance Code. Provides that subject to the restrictions provided in the Article concerning life and health insurers, an insurer may invest in bonds, notes, warrants, and other securities not in default that are the direct obligations of the government of any foreign country that is a member of the Organisation for Economic Co-operation and Development (OECD) and for which the full faith and credit of such government has been pledged for the payment of principal and interest, provided that (i) the debt of the issuing country has been rated as investment grade for at least 10 years immediately before the time of acquiring the obligations by at least 2 of the major ratings agencies, including Moody's Investors Service, Standard & Poor's Rating Services, Fitch Rating, and the Securities Valuation Office of the National Association of Insurance Commissioners and (ii) the issuing country has not defaulted and has met its payment obligations in a timely manner on all similar obligations for a period of at least 30 years immediately before the time of acquiring the obligations.
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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=09800HB1571&GA=98&SessionId=85&DocTypeId=HB&LegID=72631&DocNum=1571&GAID=12&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB1571eng&GA=98&SessionId=85&DocTypeId=HB&LegID=72631&DocNum=1571&GAID=12&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB1571enr&GA=98&SessionId=85&DocTypeId=HB&LegID=72631&DocNum=1571&GAID=12&Session=&print=true)
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## Votes
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- Third Reading — **118–0** (pass) · lower
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- Third Reading — **57–0** (pass) · upper
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## Sponsors
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- Julie A. Morrison — cosponsor (person)
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- Lou Lang — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2013-02-13** Filed with the Clerk by Rep. Lou Lang `filing`
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- **2013-02-14** First Reading `reading-1`
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- **2013-02-14** Referred to Rules Committee `referral-committee`
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- **2013-02-25** Assigned to Insurance Committee `referral-committee`
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- **2013-03-11** House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang `amendment-introduction`
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- **2013-03-11** House Committee Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2013-03-13** House Committee Amendment No. 1 Rules Refers to Insurance Committee
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- **2013-03-19** House Committee Amendment No. 1 Adopted in Insurance Committee; by Voice Vote `amendment-passage`
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- **2013-03-19** Do Pass as Amended / Short Debate Insurance Committee; 026-000-000 `committee-passage`
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- **2013-03-20** Placed on Calendar 2nd Reading - Short Debate
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- **2013-04-08** Added Chief Co-Sponsor Rep. Scott Drury
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- **2013-04-10** Second Reading - Short Debate `reading-2`
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- **2013-04-10** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2013-04-11** House Floor Amendment No. 2 Filed with Clerk by Rep. Lou Lang `amendment-introduction`
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- **2013-04-11** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
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- **2013-04-15** House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
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- **2013-04-16** Recalled to Second Reading - Short Debate `reading-2`
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- **2013-04-16** House Floor Amendment No. 2 Adopted `amendment-passage`
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- **2013-04-16** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2013-04-16** Added Chief Co-Sponsor Rep. Jack D. Franks
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- **2013-04-16** Added Chief Co-Sponsor Rep. Laura Fine
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- **2013-04-17** Third Reading - Short Debate - Passed 118-000-000 `reading-3, passage`
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- **2013-04-17** Added Co-Sponsor Rep. Robyn Gabel
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- **2013-04-17** Added Co-Sponsor Rep. Kelly M. Cassidy
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- **2013-04-17** Added Co-Sponsor Rep. Barbara Flynn Currie
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- **2013-04-17** Arrive in Senate `introduction`
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- **2013-04-17** Placed on Calendar Order of First Reading April 18, 2013 `reading-1`
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- **2013-04-19** Chief Senate Sponsor Sen. Ira I. Silverstein
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- **2013-04-19** First Reading `reading-1`
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- **2013-04-19** Referred to Assignments `referral-committee`
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- **2013-04-24** Approved for Consideration Assignments
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- **2013-04-24** Placed on Calendar Order of 2nd Reading April 25, 2013
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- **2013-04-30** Added as Alternate Co-Sponsor Sen. Julie A. Morrison
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- **2013-05-02** Added as Alternate Chief Co-Sponsor Sen. Michael W. Frerichs
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- **2013-05-07** Second Reading `reading-2`
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- **2013-05-07** Placed on Calendar Order of 3rd Reading May 8, 2013
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- **2013-05-21** Third Reading - Passed; 057-000-000 `reading-3, passage`
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- **2013-05-21** Passed Both Houses
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- **2013-06-19** Sent to the Governor `executive-receipt`
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- **2013-07-26** Governor Approved `executive-signature`
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- **2013-07-26** Effective Date January 1, 2014
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- **2013-07-26** Public Act . . . . . . . . . 98-0110 `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/9bc57af2-ee24-406d-a97a-dc0dd573531e`. Confidence: reported (aggregated from official Illinois legislature records).
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