SB2422 Summary

• Appropriates $20,744,500 total ($19,944,500 in state funds and $800,000 in federal funds) to the Illinois Department of Insurance for fiscal year beginning July 1, 2009.

• Allocates $7,922,400 from the Insurance Producer Administration Fund for personal services, retirement contributions, social security, group insurance, contractual services, travel, and refunds.

• Allocates $10,609,800 from the Insurance Financial Regulation Fund for personal services, retirement contributions, social security, group insurance, contractual services, travel, and refunds.

• Allocates $927,300 from the Public Pension Regulation Fund for the Pension Division operations including personnel and administrative costs.

• Provides $800,000 from the Senior Health Insurance Program Fund and $485,000 from the Illinois Workers' Compensation Commission Operations Fund for program administration and insurance fraud division operations, effective July 1, 2009.