Illinois SB 3447: INS-FINANCIAL REGULATION FEES

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB3447

Introduced 2/4/2026, by Sen. Mark L. Walker 

SYNOPSIS AS INTRODUCED:

215 ILCS 5/408 from Ch. 73, par. 1020

 Amends the Illinois Insurance Code. Makes changes to the annual financial regulation fee charged and collected from every domestic company and foreign or alien company, except fraternal benefit societies. Provides that those financial regulation fees shall not exceed $500,000 (instead of $250,000) in the aggregate in any single year. Provides that, beginning on the effective date of the amendatory Act, the Department of Insurance may amend the imposed fees by rule. 

LRB104 18376 BAB 31818 b

A BILL FOR

SB3447LRB104 18376 BAB 31818 b

1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Insurance Code is amended by 

5changing Section 408 as follows:

6 (215 ILCS 5/408) (from Ch. 73, par. 1020)

7 Sec. 408. Fees and charges. 

8 (1) The Director shall charge, collect and give proper 

9acquittances for the payment of the following fees and 

10charges:

11 (a) For filing all documents submitted for the 

12 incorporation or organization or certification of a 

13 domestic company, except for a fraternal benefit society, 

14 $2,000.

15 (b) For filing all documents submitted for the 

16 incorporation or organization of a fraternal benefit 

17 society, $500.

18 (c) For filing amendments to articles of incorporation 

19 and amendments to declaration of organization, except for 

20 a fraternal benefit society, a mutual benefit association, 

21 a burial society or a farm mutual, $200.

22 (d) For filing amendments to articles of incorporation 

23 of a fra