Fabio
124 lines
9.2 KiB
Markdown
124 lines
9.2 KiB
Markdown
---
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type: "Bill"
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title: "INS CD-DEPOSIT OF SECURITIES"
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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: "SB 1718"
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citation: "Illinois SB 1718 (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: 62
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vote_count: 4
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first_action: "2013-02-15"
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last_action: "2013-08-27"
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source: "openstates"
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source_identifier: "ocd-bill/2adf84a6-7c50-4597-89f8-c43a27a3bdb5"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1718&GAID=12&DocTypeID=SB&LegId=72609&SessionID=85&GA=98"
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source_hash: "976a94adad44dee68deffdc368fd3e6e3a5c9926aaf6f51c6b472cf430815be8"
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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 SB 1718 (98th) — INS CD-DEPOSIT OF SECURITIES
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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=09800SB1718&GA=98&SessionId=85&DocTypeId=SB&LegID=72609&DocNum=1718&GAID=12&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1718eng&GA=98&SessionId=85&DocTypeId=SB&LegID=72609&DocNum=1718&GAID=12&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1718enr&GA=98&SessionId=85&DocTypeId=SB&LegID=72609&DocNum=1718&GAID=12&Session=&print=true)
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## Votes
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- Concurrence — **57–0** (pass) · upper
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- Third Reading — **74–36** (pass) · lower
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- Concurrence — **57–0** (pass) · upper
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- Third Reading — **53–0** (pass) · upper
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## Sponsors
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- Ira I. Silverstein — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2013-02-15** Filed with Secretary by Sen. Ira I. Silverstein `filing`
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- **2013-02-15** First Reading `reading-1`
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- **2013-02-15** Referred to Assignments `referral-committee`
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- **2013-02-27** Assigned to Insurance `referral-committee`
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- **2013-03-12** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Ira I. Silverstein `amendment-introduction`
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- **2013-03-12** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
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- **2013-03-13** Senate Committee Amendment No. 1 Assignments Refers to Insurance
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- **2013-03-13** Postponed - Insurance
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- **2013-03-20** Senate Committee Amendment No. 1 Adopted `amendment-passage`
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- **2013-03-20** Do Pass as Amended Insurance; 008-000-000 `committee-passage`
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- **2013-03-20** Placed on Calendar Order of 2nd Reading March 21, 2013
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- **2013-03-21** Added as Chief Co-Sponsor Sen. Michael W. Frerichs
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- **2013-03-21** Added as Co-Sponsor Sen. William E. Brady
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- **2013-04-10** Senate Floor Amendment No. 2 Filed with Secretary by Sen. Ira I. Silverstein `amendment-introduction`
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- **2013-04-10** Senate Floor Amendment No. 2 Referred to Assignments `referral-committee`
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- **2013-04-10** Second Reading `reading-2`
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- **2013-04-10** Placed on Calendar Order of 3rd Reading April 11, 2013
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- **2013-04-17** Senate Floor Amendment No. 2 Assignments Refers to Insurance
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- **2013-04-17** Senate Floor Amendment No. 2 Recommend Do Adopt Insurance; 008-000-000
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- **2013-04-18** Recalled to Second Reading `reading-2`
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- **2013-04-18** Senate Floor Amendment No. 2 Adopted; Silverstein `amendment-passage`
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- **2013-04-18** Placed on Calendar Order of 3rd Reading April 23, 2013
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- **2013-04-23** Third Reading - Passed; 053-000-000 `reading-3, passage`
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- **2013-04-24** Arrived in House `introduction`
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- **2013-04-24** Chief House Sponsor Rep. Lou Lang
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- **2013-04-29** First Reading `reading-1`
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- **2013-04-29** Referred to Rules Committee `referral-committee`
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- **2013-05-09** Assigned to Executive Committee `referral-committee`
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- **2013-05-09** House Committee Amendment No. 1 Filed with Clerk by Rep. Sara Feigenholtz `amendment-introduction`
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- **2013-05-09** House Committee Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2013-05-09** Alternate Chief Sponsor Changed to Rep. Sara Feigenholtz
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- **2013-05-10** House Committee Amendment No. 1 Rules Refers to Executive Committee
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- **2013-05-10** Final Action Deadline Extended-9(b) May 24, 2013
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- **2013-05-10** House Committee Amendment No. 2 Filed with Clerk by Rep. Sara Feigenholtz `amendment-introduction`
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- **2013-05-10** House Committee Amendment No. 2 Referred to Rules Committee `referral-committee`
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- **2013-05-13** House Committee Amendment No. 2 Rules Refers to Executive Committee
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- **2013-05-15** House Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote `amendment-passage`
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- **2013-05-15** House Committee Amendment No. 2 Adopted in Executive Committee; by Voice Vote `amendment-passage`
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- **2013-05-15** Do Pass as Amended / Short Debate Executive Committee; 011-000-000 `committee-passage`
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- **2013-05-15** Placed on Calendar 2nd Reading - Short Debate
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- **2013-05-17** Second Reading - Short Debate `reading-2`
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- **2013-05-17** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2013-05-23** Added Alternate Chief Co-Sponsor Rep. Dennis M. Reboletti
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- **2013-05-24** Final Action Deadline Extended-9(b) May 31, 2013
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- **2013-05-26** Third Reading - Short Debate - Passed 074-036-000 `reading-3, passage`
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- **2013-05-27** Secretary's Desk - Concurrence House Amendment(s) 1, 2
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- **2013-05-27** Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 28, 2013
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- **2013-05-27** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Ira I. Silverstein `filing`
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- **2013-05-27** House Committee Amendment No. 1 Motion to Concur Referred to Assignments `referral-committee`
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- **2013-05-27** House Committee Amendment No. 2 Motion to Concur Filed with Secretary Sen. Ira I. Silverstein `filing`
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- **2013-05-27** House Committee Amendment No. 2 Motion to Concur Referred to Assignments `referral-committee`
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- **2013-05-28** House Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive `referral-committee`
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- **2013-05-28** House Committee Amendment No. 2 Motion to Concur Assignments Referred to Executive `referral-committee`
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- **2013-05-29** House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 015-000-000
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- **2013-05-29** House Committee Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 015-000-000
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- **2013-05-30** House Committee Amendment No. 1 Senate Concurs 057-000-000
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- **2013-05-30** House Committee Amendment No. 2 Senate Concurs 057-000-000
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- **2013-05-30** Passed Both Houses
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- **2013-06-28** Sent to the Governor `executive-receipt`
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- **2013-08-27** Governor Approved `executive-signature`
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- **2013-08-27** Effective Date August 27, 2013
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- **2013-08-27** Public Act . . . . . . . . . 98-0571 `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/2adf84a6-7c50-4597-89f8-c43a27a3bdb5`. Confidence: reported (aggregated from official Illinois legislature records).
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