INS-SURPLUS LN TAX INCR

Amends the Illinois Insurance Code. Reduces the tax paid by surplus line producers on policies effective prior to July 1, 2003. Requires that the tax rate in effect at the time of the policy effective date shall be the tax rate on all subsequent endorsements for that policy. Requires surplus line producers to file with the Director of Insurance certain information pertaining to submissions made by the producer to the Surplus Line Association of Illinois and at the time of the filing to pay to the Director the required surplus line taxes. Requires surplus line producers to file with the Director certain information pertaining to submissions made by the producer to the Surplus Line Association of Illinois concerning fire insurance policies and at the time of the filing to pay to the Director the taxes required by the Fire Investigation Act. Effective immediately.