Establishes the Surrogacy Agreement Escrow Protection Fund to provide restitution for monetary losses from escrow transactions.
Illinois HB2570 creates the Surrogacy Agreement Escrow Protection Fund, a special income-earning fund in the State treasury. The Fund is intended to provide restitution to individuals who have suffered monetary losses from escrow transactions related to gestational surrogacy contracts. The Fund can only be used for restitution ordered by the Director of Public Health, and the amount of restitution cannot exceed the actual loss. The Fund is financed by a yearly fee of $1,000 assessed to entities engaged in escrow, with additional special fees if the Fund balance falls below $150,000.
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