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HB1234 - 104th General Assembly
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| 1 | AN ACT concerning State government. | ||||||
| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly: | ||||||
| 4 | Section 5. The Secretary of State Act is amended by adding | ||||||
| 5 | Section 38 as follows: | ||||||
| 6 | (15 ILCS 305/38 new) | ||||||
| 7 | Sec. 38. Study on automobile insurance affordability and | ||||||
| 8 | availability. By January 1, 2026, the Secretary of State shall | ||||||
| 9 | conduct a study on the affordability and availability of | ||||||
| 10 | statutorily mandated automobile insurance in this State. When | ||||||
| 11 | conducting the study, the Secretary of State may use data or | ||||||
| 12 | academic studies conducted by other sources, solicit feedback | ||||||
| 13 | and testimony from constituents and community leaders, | ||||||
| 14 | consider any guidance, written or otherwise, provided by | ||||||
| 15 | insurance industry experts based in this State, and consider | ||||||
| 16 | statutes and regulations in other states and national trends. | ||||||
| 17 | The study shall include, but shall not be limited to, the use | ||||||
| 18 | of zip codes, credit scores, and age in ratemaking and whether | ||||||
| 19 | the specific factor results in inequitable rates being | ||||||
| 20 | assessed to certain populations. No later than January 1, | ||||||
| 21 | 2026, the Secretary of State shall submit the report and its | ||||||
| 22 | recommendations to the Governor and the General Assembly. | ||||||
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| 1 | Section 99. Effective date. This Act takes effect upon | ||||||
| 2 | becoming law. | ||||||