Illinois General Assembly - Bill Status for SB0065
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 Bill Status of SB0065  100th General Assembly


Short Description:  TITLE INS-MULTIPLE POLICIES

Senate Sponsors
Sen. Michael E. Hastings

House Sponsors
(Rep. Ann M. Williams )

Last Action
DateChamber Action
  8/23/2018SenateGovernor Vetoed

Statutes Amended In Order of Appearance
215 ILCS 155/8.5 new


Synopsis As Introduced
Amends the Title Insurance Act. Provides that in a transaction for the sale and purchase of residential real property, all title insurance policies for that transaction shall be issued through the same policy issuing entity, except as otherwise agreed by the seller and buyer. Effective January 1, 2018.

Senate Committee Amendment No. 1
Deletes reference to:
215 ILCS 155/8.5 new
Adds reference to:
215 ILCS 155/18.5 new

Replaces everything after the enacting clause. Amends the Title Insurance Act. Provides the public policy of the State concerning splitting title insurance policies among multiple title insurance companies in a single transaction for the sale and purchase of residential real property. Provides that in a transaction for the sale and purchase of residential real property, the title insurance company issuing the owner's title insurance policy shall issue the lender's insurance policy for that transaction unless the buyer and seller agree otherwise or the buyer or seller is offered a discounted premium or an economic benefit as an inducement to split the title insurance policies. Provides that under certain circumstances, the policies shall be issued by the same title insurance company.

Senate Committee Amendment No. 3
Replaces everything after the enacting clause. Reinserts the provisions of Senate Amendment No. 1 with the following change: Removes language providing the public policy of the State concerning splitting title insurance policies among multiple title insurance companies in a single transaction for the sale and purchase of residential real property.

Senate Floor Amendment No. 4
Deletes reference to:
215 ILCS 155/18.5 new
Adds reference to:
215 ILCS 155/18.1

Replaces everything after the enacting clause. Amends the Title Insurance Act. In provisions concerning choice of title insurance company, provides that it is the public policy of the State that parties to a contract for the sale of residential real property who are obligated to pay for certain products and services related to title insurance (rather than title insurance) have the right to also choose the independent escrowee that will provide those products and services. Makes conforming changes. Provides that for a county with a population not less than 500,000, a transaction for the sale and purchase or residential real property, the title insurance company issuing the owner's title insurance policy shall issue the lender's title insurance policy for that transaction if the policy is required by the lender. Provides an exception to that if the buyer and seller agree otherwise or the buyer or seller is offered a discount of fees as an inducement to split the title insurance policies, unless the title insurance company issuing the owner's policy agrees to offer the same discount of fees.

House Floor Amendment No. 1
Changes a reference to "title insurance" to "products and services enumerated in" certain provisions of the Title Insurance Act.

Actions 
DateChamber Action
  1/11/2017SenateFiled with Secretary by Sen. Michael E. Hastings
  1/11/2017SenateFirst Reading
  1/11/2017SenateReferred to Assignments
  1/24/2017SenateAssigned to Judiciary
  2/9/2017SenatePostponed - Judiciary
  3/9/2017SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Michael E. Hastings
  3/9/2017SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/14/2017SenateSenate Committee Amendment No. 1 Assignments Refers to Judiciary
  3/14/2017SenateSenate Committee Amendment No. 1 Adopted
  3/15/2017SenateDo Pass as Amended Judiciary; 007-002-002
  3/15/2017SenatePlaced on Calendar Order of 2nd Reading March 16, 2017
  3/21/2017SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Michael E. Hastings
  3/21/2017SenateSenate Floor Amendment No. 2 Referred to Assignments
  3/28/2017SenateSenate Floor Amendment No. 2 Assignments Refers to Judiciary
  3/29/2017SenateSenate Floor Amendment No. 2 Postponed - Judiciary
  4/6/2017SenateSenate Floor Amendment No. 2 Recommend Do Adopt Judiciary; 009-000-001
  4/28/2017SenateRule 2-10 Third Reading Deadline Established As May 31, 2017
  8/4/2017SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  8/4/2017SenateSenate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
  4/10/2018SenateRe-assigned to Judiciary
  4/10/2018SenateSenate Floor Amendment No. 2 Re-assigned to Judiciary
  4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018
  4/16/2018SenateSenate Committee Amendment No. 3 Filed with Secretary by Sen. Michael E. Hastings
  4/16/2018SenateSenate Committee Amendment No. 3 Referred to Assignments
  4/17/2018SenateSenate Committee Amendment No. 3 Assignments Refers to Judiciary
  4/17/2018SenateSenate Floor Amendment No. 2 Postponed - Judiciary
  4/17/2018SenateSenate Committee Amendment No. 3 Adopted
  4/17/2018SenateDo Pass as Amended Judiciary; 010-000-000
  4/17/2018SenatePlaced on Calendar Order of 2nd Reading
  4/20/2018SenateSenate Floor Amendment No. 4 Filed with Secretary by Sen. Michael E. Hastings
  4/20/2018SenateSenate Floor Amendment No. 4 Referred to Assignments
  4/23/2018SenateSecond Reading
  4/23/2018SenatePlaced on Calendar Order of 3rd Reading April 24, 2018
  4/23/2018SenateSenate Floor Amendment No. 4 Assignments Refers to Judiciary
  4/24/2018SenateSenate Floor Amendment No. 4 Postponed - Judiciary
  4/24/2018SenateSenate Floor Amendment No. 4 Recommend Do Adopt Judiciary; 007-002-001
  4/26/2018SenateRecalled to Second Reading
  4/26/2018SenateSenate Floor Amendment No. 4 Adopted; Hastings
  4/26/2018SenatePlaced on Calendar Order of 3rd Reading
  4/26/2018SenateThird Reading - Passed; 041-006-003
  4/26/2018SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
  4/26/2018HouseArrived in House
  4/26/2018HouseChief House Sponsor Rep. Robert Rita
  4/26/2018HouseFirst Reading
  4/26/2018HouseReferred to Rules Committee
  5/7/2018HouseAssigned to Judiciary - Civil Committee
  5/8/2018HouseAlternate Chief Sponsor Changed to Rep. Ann M. Williams
  5/9/2018HouseTo Real & Personal Property Law Subcommittee
  5/16/2018HouseRecommends Do Pass Subcommittee/ Judiciary - Civil Committee; 003-000-000
  5/16/2018HouseReported Back To Judiciary - Civil Committee;
  5/16/2018HouseDo Pass / Short Debate Judiciary - Civil Committee; 007-002-000
  5/17/2018HousePlaced on Calendar 2nd Reading - Short Debate
  5/22/2018HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Ann M. Williams
  5/22/2018HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  5/23/2018HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000
  5/23/2018HouseSecond Reading - Short Debate
  5/23/2018HouseHouse Floor Amendment No. 1 Adopted
  5/23/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/24/2018HouseThird Reading - Short Debate - Passed 060-044-001
  5/25/2018SenateSecretary's Desk - Concurrence House Amendment(s) 1
  5/25/2018SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 28, 2018
  5/25/2018SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Michael E. Hastings
  5/25/2018SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
  5/28/2018SenateHouse Floor Amendment No. 1 Motion to Concur Assignments Referred to Judiciary
  5/29/2018SenateHouse Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Judiciary; 007-003-001
  5/30/2018SenateHouse Floor Amendment No. 1 Senate Concurs 038-014-003
  5/30/2018SenateSenate Concurs
  5/30/2018SenatePassed Both Houses
  6/28/2018SenateSent to the Governor
  8/23/2018SenateGovernor Vetoed

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