Bill Title: Amends the Illinois Insurance Code. Provides that the Department of Insurance shall have a lien for the taxes, fees, charges, fines, penalties, interest, other charges, or any portion thereof, imposed or assessed pursuant to the Code, upon all the real and personal property of any company or person to whom the assessment or final order has been issued or whenever a tax return is filed without payment of the tax or penalty shown therein to be due, including all such property of such company or person acquired after receipt of such assessment, issuance of such order, or filing of such return. Sets forth provisions concerning final assessments, the termination of a lien, and jeopardy assessment liens. Provides that nothing in the provision concerning liens shall be construed to give the Department a preference over the rights of any bona fide purchaser, holder of a security interest, mechanics lienholder, mortgagee, or judgment lien creditor arising prior to the filing of a regular notice of lien or a notice of jeopardy assessment lien in the office of the recorder in the county in which the property subject to the lien is located. Makes other changes. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Passed) 2013-08-02 - Public Act . . . . . . . . . 98-0158 [SB1730 Detail]

Text: Latest bill text (Chaptered) [HTML]

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