IllinoisSB3147104th General Assembly (2025–2026)SenateWALLET

MINE SUBSIDENCE INSURANCE FUND

Sponsored By: Christopher Belt (Democratic)

In Committee

Summary

Amends the Mine Subsidence Insurance Article of the Illinois Insurance Code. Makes changes to defined terms. Provides that the moneys in the Illinois Mine Subsidence Insurance Fund shall be derived primarily from premiums for mine subsidence insurance ceded by insurers to the Fund pursuant to the Article and from investment income. In establishing mine subsidence insurance premium rates, provides that the Fund shall give due consideration to factors reasonably considered by an insurer when setting premium rates and to the fact that the Fund does not receive taxpayer funding or have the ability to issue assessments to the insurance industry to support its long-term financial viability. Changes terms related to the appointment of directors in provisions concerning management of the Fund and establishes 3-year staggered terms for the directors. Provides that all directors shall be independent and owe a duty of care and duty of loyalty to the Fund. In provisions concerning mine subsidence coverage, provides that the loss covered shall be the loss in excess of any applicable deductible or retention in the policy, subject to the limit of insurance for mine subsidence damage stated in the policy. For all policies issued or renewed on or after January 1, 2027, provides that there shall be no deductible or retention applicable to mine subsidence damage. For all policies issued or renewed on or after the effective date of the amendatory Act, provides that the maximum amount of reinsured loss per residence, per commercial building, and per living unit shall be the amounts established by the Fund and approved by the Director. Provides that the residential and living unit coverage provided under the Article may also cover specified costs of debris removal, moving and storage of contents, and repair or replacement of landscaping. Makes changes in provisions concerning division of the Fund; exemptions; rights of insurers to refuse to provide mine subsidence coverage; arbitration; reinsurance agreements; distribution of premiums; reporting requirements; right of recourse and setoffs; subrogation; and powers of the Director of Insurance.

assignmentsinsurance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Christopher Belt

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 10 • No: 0

Senate vote • 3/11/2026

Do Pass as Amended Insurance;

Yes: 10 • No: 0

Actions Timeline

  1. Rule 3-9(a) / Re-referred to Assignments

    4/17/2026Senate
  2. Placed on Calendar Order of 3rd Reading March 24, 2026

    3/12/2026Senate
  3. Second Reading

    3/12/2026Senate
  4. Placed on Calendar Order of 2nd Reading March 12, 2026

    3/11/2026Senate
  5. Do Pass as Amended Insurance; 010-000-000

    3/11/2026Senate
  6. Senate Committee Amendment No. 2 Adopted

    3/10/2026Senate
  7. Senate Committee Amendment No. 1 Adopted

    3/10/2026Senate
  8. Senate Committee Amendment No. 2 Assignments Refers to Insurance

    3/10/2026Senate
  9. Senate Committee Amendment No. 2 Referred to Assignments

    3/5/2026Senate
  10. Senate Committee Amendment No. 2 Filed with Secretary by Sen. Christopher Belt

    3/5/2026Senate
  11. Senate Committee Amendment No. 1 Assignments Refers to Insurance

    2/24/2026Senate
  12. Senate Committee Amendment No. 1 Referred to Assignments

    2/17/2026Senate
  13. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Christopher Belt

    2/17/2026Senate
  14. Assigned to Insurance

    2/10/2026Senate
  15. Referred to Assignments

    2/2/2026Senate
  16. First Reading

    2/2/2026Senate
  17. Filed with Secretary by Sen. Christopher Belt

    2/2/2026Senate

Bill Text

  • Introduced

  • Senate Amendment 1

  • Senate Amendment 2

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