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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:
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| 735 ILCS 5/2-1303 | from Ch. 110, par. 2-1303 |
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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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| | SB0080 | | LRB103 24950 LNS 51284 b |
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| 1 | | AN ACT concerning civil law.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Code of Civil Procedure is amended by |
| 5 | | changing Section 2-1303 as follows:
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| 6 | | (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)
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| 7 | | Sec. 2-1303. Interest on judgment. |
| 8 | | (a) Except as provided in subsection (b), judgments |
| 9 | | recovered in
any court shall draw interest at the rate of 9% |
| 10 | | per annum from the date
of the judgment until satisfied or 6% |
| 11 | | per annum when the judgment debtor is a unit
of local |
| 12 | | government, as defined in Section 1 of Article VII of the |
| 13 | | Constitution,
a school district, a community college district, |
| 14 | | or any other governmental
entity. When judgment is entered |
| 15 | | upon any award, report, or verdict, interest
shall be computed |
| 16 | | at the above rate, from the time when made or rendered
to the |
| 17 | | time of entering judgment upon the same, and included in the |
| 18 | | judgment.
Interest shall be computed and charged only on the |
| 19 | | unsatisfied portion of
the judgment as it exists from time to |
| 20 | | time. The judgment debtor may by
tender of payment of |
| 21 | | judgment, costs, and interest
accrued to the date of tender, |
| 22 | | stop the further accrual of interest on such
judgment |
| 23 | | notwithstanding the prosecution of an appeal, or other steps |
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| 1 | | to
reverse, vacate, or modify the judgment.
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| 2 | | (b)(1) As used in this Section: |
| 3 | | "Consumer debt" means money or property, or the |
| 4 | | equivalent, due or owing, or alleged to be due or owing, from a |
| 5 | | natural person by reason of a transaction in which property, |
| 6 | | services, or money is acquired by that natural person |
| 7 | | primarily for personal, family, or household purposes. |
| 8 | | "Consumer debt judgment" means a judgment recovered in any |
| 9 | | court against one or more natural persons arising out of |
| 10 | | consumer debt. "Consumer debt judgment" does not include any |
| 11 | | compensation for bodily injury or death, nor any judgment |
| 12 | | entered where the debt is guaranteed by or contains a joint and |
| 13 | | several liability provision between a natural person and a |
| 14 | | business, whether or not that business is legally constituted |
| 15 | | under the laws of this State or any other state. |
| 16 | | (2) Notwithstanding subsection (a), consumer debt |
| 17 | | judgments of $25,000 or less shall draw interest from the date |
| 18 | | of the judgment until satisfied at the rate of 5% per annum. |
| 19 | | (3) The judgment debtor may, by tender of payment of |
| 20 | | judgment, costs, and interest accrued to the date of tender, |
| 21 | | stop the further accrual of interest on the consumer debt |
| 22 | | judgment, notwithstanding the prosecution of an appeal, or |
| 23 | | other steps to reverse, vacate, or modify the judgment. |
| 24 | | (4) This subsection applies to all consumer debt judgments |
| 25 | | entered into after the effective date of this amendatory Act |
| 26 | | of the 101st General Assembly. |
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| 1 | | (c) In all actions brought to recover damages for personal |
| 2 | | injury or wrongful death resulting from or occasioned by the |
| 3 | | conduct of any other person or entity, whether by negligence, |
| 4 | | willful and wanton misconduct, intentional conduct, or strict |
| 5 | | liability of the other person or entity, the plaintiff shall |
| 6 | | recover prejudgment interest on all damages, except punitive |
| 7 | | damages, sanctions, statutory attorney's fees, and statutory |
| 8 | | costs, set forth in the judgment. Prejudgment interest shall |
| 9 | | begin to accrue on the date the action is filed. If the |
| 10 | | plaintiff voluntarily dismisses the action and refiles, the |
| 11 | | accrual of prejudgment interest shall be tolled from the date |
| 12 | | the action is voluntarily dismissed to the date the action is |
| 13 | | refiled. In entering judgment for the plaintiff in the action, |
| 14 | | the court shall add to the amount of the judgment interest |
| 15 | | calculated at the rate of 5% 6% per annum on the amount of the |
| 16 | | judgment, minus punitive damages, sanctions, statutory |
| 17 | | attorney's fees, and statutory costs. If the judgment is |
| 18 | | greater than the amount of the highest written settlement |
| 19 | | offer made by the defendant within 12 months after the later of |
| 20 | | the effective date of this amendatory Act of the 102nd General |
| 21 | | Assembly or the filing of the action and not accepted by the |
| 22 | | plaintiff within 90 days after the date of the offer or |
| 23 | | rejected by the plaintiff, interest added to the amount of |
| 24 | | judgment shall be an amount equal to interest calculated at |
| 25 | | the rate of 5% 6% per annum on the difference between the |
| 26 | | amount of the judgment, minus punitive damages, sanctions, |
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| 1 | | statutory attorney's fees, and statutory costs, and the amount |
| 2 | | of the highest written settlement offer. If the judgment is |
| 3 | | equal to or less than the amount of the highest written |
| 4 | | settlement offer made by the defendant within 12 months after |
| 5 | | the later of the effective date of this amendatory Act of the |
| 6 | | 102nd General Assembly or the filing of the action and not |
| 7 | | accepted by the plaintiff within 90 days after the date of the |
| 8 | | offer or rejected by the plaintiff, no prejudgment interest |
| 9 | | shall be added to the amount of the judgment. For the purposes |
| 10 | | of this subsection, withdrawal of a settlement offer by |
| 11 | | defendant shall not be considered a rejection of the offer by |
| 12 | | the plaintiff. Notwithstanding any other provision of this |
| 13 | | subsection, prejudgment interest shall accrue for no longer |
| 14 | | than 5 years. |
| 15 | | Notwithstanding any other provision of law, neither the |
| 16 | | State, a unit of local government, a school district, |
| 17 | | community college district, nor any other governmental entity |
| 18 | | is liable to pay prejudgment interest in an action brought |
| 19 | | directly or vicariously against it by the injured party. |
| 20 | | For any personal injury or wrongful death occurring before |
| 21 | | the effective date of this amendatory Act of the 102nd General |
| 22 | | Assembly, the prejudgment interest shall begin to accrue on |
| 23 | | the later of the date the action is filed or the effective date |
| 24 | | of this amendatory Act of the 102nd General Assembly. |
| 25 | | (Source: P.A. 101-168, eff. 1-1-20; 102-6, eff. 7-1-21.)
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| 26 | | Section 99. Effective date. This Act takes effect upon |