IL HB2441

Amends the Workers' Compensation Act to expand options for satisfying bond requirements when a party ordered to pay a monetary award seeks judicial review of an Illinois Workers' Compensation Commission decision

Allows parties to post collateral or guarantee of payment instead of a traditional bond, including an insurance policy, certificate of self-insurance, or funds in an escrow account

Permits bonds to be signed by the employer or a designated representative, and if the employer is insured, by a representative of the insurer

Gives the opposing party 20 days to object to an insurance policy or certificate of self-insurance filed as collateral, with 10 days to cure any defect if the objection is sustained

Allows the circuit court to extend the time for filing collateral or guarantee by up to 45 days total upon a showing of good cause