Bill Text: IL SB0080 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Code of Civil Procedure. In a provision concerning actions brought to recover damages for personal injury or wrongful death, changes the prejudgment interest rate to 5% per annum instead of 6% per annum. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2023-01-20 - Referred to Assignments [SB0080 Detail]

Download: Illinois-2023-SB0080-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB0080 Introduced 1/20/2023, by Sen. Jil Tracy SYNOPSIS AS INTRODUCED:
735 ILCS 5/2-1303 from Ch. 110, par. 2-1303
Amends the Code of Civil Procedure. In a provision concerning actions brought to recover damages for personal injury or wrongful death, changes the prejudgment interest rate to 5% per annum instead of 6% per annum. Effective immediately.
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A BILL FOR
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AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Code of Civil Procedure is amended by
changing Section 2-1303 as follows:
(735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)
Sec. 2-1303. Interest on judgment.
(a) Except as provided in subsection (b), judgments
recovered in any court shall draw interest at the rate of 9%
per annum from the date of the judgment until satisfied or 6%
per annum when the judgment debtor is a unit of local
government, as defined in Section 1 of Article VII of the
Constitution, a school district, a community college district,
or any other governmental entity. When judgment is entered
upon any award, report, or verdict, interest shall be computed
at the above rate, from the time when made or rendered to the
time of entering judgment upon the same, and included in the
judgment. Interest shall be computed and charged only on the
unsatisfied portion of the judgment as it exists from time to
time. The judgment debtor may by tender of payment of
judgment, costs, and interest accrued to the date of tender,
stop the further accrual of interest on such judgment
notwithstanding the prosecution of an appeal, or other steps

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to reverse, vacate, or modify the judgment.
(b)(1) As used in this Section:
"Consumer debt" means money or property, or the
equivalent, due or owing, or alleged to be due or owing, from a
natural person by reason of a transaction in which property,
services, or money is acquired by that natural person
primarily for personal, family, or household purposes.
"Consumer debt judgment" means a judgment recovered in any
court against one or more natural persons arising out of
consumer debt. "Consumer debt judgment" does not include any
compensation for bodily injury or death, nor any judgment
entered where the debt is guaranteed by or contains a joint and
several liability provision between a natural person and a
business, whether or not that business is legally constituted
under the laws of this State or any other state.
(2) Notwithstanding subsection (a), consumer debt
judgments of $25,000 or less shall draw interest from the date
of the judgment until satisfied at the rate of 5% per annum.
(3) The judgment debtor may, by tender of payment of
judgment, costs, and interest accrued to the date of tender,
stop the further accrual of interest on the consumer debt
judgment, notwithstanding the prosecution of an appeal, or
other steps to reverse, vacate, or modify the judgment.
(4) This subsection applies to all consumer debt judgments
entered into after the effective date of this amendatory Act
of the 101st General Assembly.

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(c) In all actions brought to recover damages for personal
injury or wrongful death resulting from or occasioned by the
conduct of any other person or entity, whether by negligence,
willful and wanton misconduct, intentional conduct, or strict
liability of the other person or entity, the plaintiff shall
recover prejudgment interest on all damages, except punitive
damages, sanctions, statutory attorney's fees, and statutory
costs, set forth in the judgment. Prejudgment interest shall
begin to accrue on the date the action is filed. If the
plaintiff voluntarily dismisses the action and refiles, the
accrual of prejudgment interest shall be tolled from the date
the action is voluntarily dismissed to the date the action is
refiled. In entering judgment for the plaintiff in the action,
the court shall add to the amount of the judgment interest
calculated at the rate of 5% 6% per annum on the amount of the
judgment, minus punitive damages, sanctions, statutory
attorney's fees, and statutory costs. If the judgment is
greater than the amount of the highest written settlement
offer made by the defendant within 12 months after the later of
the effective date of this amendatory Act of the 102nd General
Assembly or the filing of the action and not accepted by the
plaintiff within 90 days after the date of the offer or
rejected by the plaintiff, interest added to the amount of
judgment shall be an amount equal to interest calculated at
the rate of 5% 6% per annum on the difference between the
amount of the judgment, minus punitive damages, sanctions,

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statutory attorney's fees, and statutory costs, and the amount
of the highest written settlement offer. If the judgment is
equal to or less than the amount of the highest written
settlement offer made by the defendant within 12 months after
the later of the effective date of this amendatory Act of the
102nd General Assembly or the filing of the action and not
accepted by the plaintiff within 90 days after the date of the
offer or rejected by the plaintiff, no prejudgment interest
shall be added to the amount of the judgment. For the purposes
of this subsection, withdrawal of a settlement offer by
defendant shall not be considered a rejection of the offer by
the plaintiff. Notwithstanding any other provision of this
subsection, prejudgment interest shall accrue for no longer
than 5 years.
Notwithstanding any other provision of law, neither the
State, a unit of local government, a school district,
community college district, nor any other governmental entity
is liable to pay prejudgment interest in an action brought
directly or vicariously against it by the injured party.
For any personal injury or wrongful death occurring before
the effective date of this amendatory Act of the 102nd General
Assembly, the prejudgment interest shall begin to accrue on
the later of the date the action is filed or the effective date
of this amendatory Act of the 102nd General Assembly.
(Source: P.A. 101-168, eff. 1-1-20; 102-6, eff. 7-1-21.)
Section 99. Effective date. This Act takes effect upon

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becoming law.