Bill Text: IL SB2623 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Requires every insurance company authorized to do business in this State or accredited by this State with assets of at least $100,000,000 to submit an annual report on its voluntary supplier diversity program to the Department of Insurance. Sets forth provisions on what the report must include and how and when the report must be submitted. Provides that, for each report, the Department shall publish the results on its Internet website for 5 years after submission. Requires the Department to hold an annual insurance company supplier diversity workshop in February of 2019 and every February thereafter to discuss the reports with representatives of the insurance companies and vendors. Provides that the Department shall prepare a template for voluntary supplier diversity reports. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB2623 Detail]

Download: Illinois-2017-SB2623-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 SB2623 Introduced 2/8/2018, by Sen. James F. Clayborne, Jr. SYNOPSIS AS INTRODUCED:
215 ILCS 5/155.46 new
Amends the Illinois Insurance Code. Requires every insurance company authorized to do business in this State or accredited by this State with assets of at least $100,000,000 to submit an annual report on its voluntary supplier diversity program to the Department of Insurance. Sets forth provisions on what the report must include and how and when the report must be submitted. Provides that, for each report, the Department shall publish the results on its Internet website for 5 years after submission. Requires the Department to hold an annual insurance company supplier diversity workshop in February of 2019 and every February thereafter to discuss the reports with representatives of the insurance companies and vendors. Provides that the Department shall prepare a template for voluntary supplier diversity reports. Effective immediately.
LRB100 15603 SMS 30698 b
A BILL FOR
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AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Insurance Code is amended by adding
Section 155.46 as follows:
(215 ILCS 5/155.46 new)
Sec. 155.46. Insurance company supplier diversity report.
(a) Every company authorized to do business in this State
or accredited by this State with assets of at least
$100,000,000 shall submit a 2-page report on its voluntary
supplier diversity program to the Department. The report shall
set forth all of the following:
(1) The name, address, phone number, and e-mail address
of the point of contact for the supplier diversity program
(or the company's procurement program if there is no
supplier diversity program) for vendors to register with
the program.
(2) Local and State certifications the company accepts
or recognizes for minority-owned, women-owned, or
veteran-owned business status.
(3) On the second page, a narrative explaining the
results of the report and the tactics to be employed to
achieve the goals of its voluntary supplier diversity

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program.
(4) The voluntary goals, if any, for the calendar year
for which the report is made in each category for the
entire budget of the company and the commodity codes or a
description of particular goods and services for the area
of procurement in which the company expects most of those
goals to focus on in that year.
Each company is required to submit a searchable portable
document format (PDF) report to the Department on or before
November 15, 2018, and on or before November 15 every year
thereafter, for the upcoming calendar year.
(b) For each report submitted under subsection (a) of this
Section, the Department shall publish the results on its
Internet website for 5 years after submission. The Department
is not responsible for collecting the reports or for the
content of the reports.
(c) The Department shall hold an annual insurance company
supplier diversity workshop in February of 2019 and every
February thereafter to discuss the reports with
representatives of the companies and vendors.
(d) The Department shall prepare a one-page template (not
including the narrative section) for the voluntary supplier
diversity reports.
(e) The Department may adopt such rules as it deems
necessary to implement this Section.
Section 99. Effective date. This Act takes effect upon

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