On August 26, 2018, Illinois Governor Bruce Rauner issued an amendatory veto to insurance omnibus legislation, Senate Bill 1737. The amendatory veto deletes provisions in the bill related to short-term limited-duration health plans and worker’s compensation insurance. Portions of the bill concerning captive insurance regulation, domestic stock company division and credit for reinsurance remain in the bill.
The General Assembly now has three options:
- it can override the amendatory veto with a vote by a three-fifths majority of the members in each chamber and the bill would then become law in the form in which the bill was originally sent to the Governor;
- it can accept the changes made by the Governor with a vote by a three-fifths majority of the members in each chamber and the bill would then become law as amended by the Governor; or
- if the General Assembly takes no action or fails to garner a three-fifths majority for either of the options above, the bill dies.
The General Assembly is scheduled to reconvene for the Veto Session, to consider the Governor’s vetoes, on November 13, 2018.