95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB3401


 
Introduced 2/27/2007, by Rep. JoAnn D. Osmond
 
SYNOPSIS AS INTRODUCED:
 		













215 ILCS 5/462c new










    Amends the Illinois Insurance Code. Provides that if an employer fails to provide the  insurance carrier or self-insurer in which it has its workers' compensation insurance policy with reasonable access to payroll records for a payroll verification audit when requested by the insurance carrier or self-insurer, the employer shall pay a premium to the insurance carrier or self-insurer not to exceed 3 times the most recent estimated annual premium owed to the insurance carrier or self-insurer.
















LRB095 11427 KBJ 32289 b

















 


 


A BILL FOR









 











HB3401

LRB095 11427 KBJ 32289 b






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    AN ACT concerning insurance.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Insurance Code is amended  by adding 
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Section 462c as follows:
 
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    (215 ILCS 5/462c  new)
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    Sec. 462c. Workers' compensation; payroll verification; 
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premiums. If an employer fails to provide the  insurance carrier 
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or self-insurer in which it has its workers' compensation 
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insurance policy with reasonable access to payroll records for 
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a payroll verification audit when requested by the insurance 
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carrier or self-insurer, the employer shall pay a premium to 
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the insurance carrier or self-insurer not to exceed 3 times the 
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most recent estimated annual premium owed to the insurance 
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carrier or self-insurer.