Vote Smart's Synopsis:

Vote to pass a bill that establishes the Illinois Employers Mutual Insurance company, a worker's compensation insurance company underwritten by the state.

Highlights:

• Establishes the Illinois Employers Mutual Insurance Company as a nonprofit, independent public corporation to insure Illinois employers against workers compensation liability and occupational disease coverage (Sec. 5).

• Authorizes $10 million in funds from the Illinois Workers Compensation Commission Operations Fund to the Illinois Employment Mutual Insurance Company for start-up funding and initial costs that is to be paid back in full within 5 years (Sec. 5).

• Specifies that the Illinois Employment Mutual Insurance Company will not be considered a state agency for any purpose (Sec. 5).

• Authorizes the governor to appoint with the approval of the Senate, 7 individuals for the Board of Directors for the Illinois Employment Mutual Insurance Company that will serve out terms no longer than 5 years (Sec. 5).

• Prohibits the Board of Directors from being composed of individuals who have an interest as a stockholder, attorney, or contractor of a company that writes workers compensation insurance, or are the spouse or immediate family member of an individual with a vested interest (Sec. 5).

• Specifies that the Board of Directors may be composed of individuals who previously worked as a stockholder, attorney, or contractor of a company that writes workers compensation insurance (Sec. 5).

Full Bill Text