103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB2949

 

Introduced 1/31/2024, 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

 

SB2949LRB103 38311 JRC 68446 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Code of Civil Procedure is amended by
5changing Section 2-1303 as follows:
 
6    (735 ILCS 5/2-1303)  (from Ch. 110, par. 2-1303)
7    Sec. 2-1303. Interest on judgment.
8    (a) Except as provided in subsection (b), judgments
9recovered in any court shall draw interest at the rate of 9%
10per annum from the date of the judgment until satisfied or 6%
11per annum when the judgment debtor is a unit of local
12government, as defined in Section 1 of Article VII of the
13Constitution, a school district, a community college district,
14or any other governmental entity. When judgment is entered
15upon any award, report, or verdict, interest shall be computed
16at the above rate, from the time when made or rendered to the
17time of entering judgment upon the same, and included in the
18judgment. Interest shall be computed and charged only on the
19unsatisfied portion of the judgment as it exists from time to
20time. The judgment debtor may by tender of payment of
21judgment, costs, and interest accrued to the date of tender,
22stop the further accrual of interest on such judgment
23notwithstanding the prosecution of an appeal, or other steps

 

 

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1to reverse, vacate, or modify the judgment.
2    (b)(1) As used in this Section:
3    "Consumer debt" means money or property, or the
4equivalent, due or owing, or alleged to be due or owing, from a
5natural person by reason of a transaction in which property,
6services, or money is acquired by that natural person
7primarily for personal, family, or household purposes.
8    "Consumer debt judgment" means a judgment recovered in any
9court against one or more natural persons arising out of
10consumer debt. "Consumer debt judgment" does not include any
11compensation for bodily injury or death, nor any judgment
12entered where the debt is guaranteed by or contains a joint and
13several liability provision between a natural person and a
14business, whether or not that business is legally constituted
15under the laws of this State or any other state.
16    (2) Notwithstanding subsection (a), consumer debt
17judgments of $25,000 or less shall draw interest from the date
18of the judgment until satisfied at the rate of 5% per annum.
19    (3) The judgment debtor may, by tender of payment of
20judgment, costs, and interest accrued to the date of tender,
21stop the further accrual of interest on the consumer debt
22judgment, notwithstanding the prosecution of an appeal, or
23other steps to reverse, vacate, or modify the judgment.
24    (4) This subsection applies to all consumer debt judgments
25entered into after the effective date of this amendatory Act
26of the 101st General Assembly.

 

 

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1    (c) In all actions brought to recover damages for personal
2injury or wrongful death resulting from or occasioned by the
3conduct of any other person or entity, whether by negligence,
4willful and wanton misconduct, intentional conduct, or strict
5liability of the other person or entity, the plaintiff shall
6recover prejudgment interest on all damages, except punitive
7damages, sanctions, statutory attorney's fees, and statutory
8costs, set forth in the judgment. Prejudgment interest shall
9begin to accrue on the date the action is filed. If the
10plaintiff voluntarily dismisses the action and refiles, the
11accrual of prejudgment interest shall be tolled from the date
12the action is voluntarily dismissed to the date the action is
13refiled. In entering judgment for the plaintiff in the action,
14the court shall add to the amount of the judgment interest
15calculated at the rate of 5% 6% per annum on the amount of the
16judgment, minus punitive damages, sanctions, statutory
17attorney's fees, and statutory costs. If the judgment is
18greater than the amount of the highest written settlement
19offer made by the defendant within 12 months after the later of
20the effective date of this amendatory Act of the 102nd General
21Assembly or the filing of the action and not accepted by the
22plaintiff within 90 days after the date of the offer or
23rejected by the plaintiff, interest added to the amount of
24judgment shall be an amount equal to interest calculated at
25the rate of 5% 6% per annum on the difference between the
26amount of the judgment, minus punitive damages, sanctions,

 

 

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1statutory attorney's fees, and statutory costs, and the amount
2of the highest written settlement offer. If the judgment is
3equal to or less than the amount of the highest written
4settlement offer made by the defendant within 12 months after
5the later of the effective date of this amendatory Act of the
6102nd General Assembly or the filing of the action and not
7accepted by the plaintiff within 90 days after the date of the
8offer or rejected by the plaintiff, no prejudgment interest
9shall be added to the amount of the judgment. For the purposes
10of this subsection, withdrawal of a settlement offer by
11defendant shall not be considered a rejection of the offer by
12the plaintiff. Notwithstanding any other provision of this
13subsection, prejudgment interest shall accrue for no longer
14than 5 years.
15    Notwithstanding any other provision of law, neither the
16State, a unit of local government, a school district,
17community college district, nor any other governmental entity
18is liable to pay prejudgment interest in an action brought
19directly or vicariously against it by the injured party.
20    For any personal injury or wrongful death occurring before
21the effective date of this amendatory Act of the 102nd General
22Assembly, the prejudgment interest shall begin to accrue on
23the later of the date the action is filed or the effective date
24of this amendatory Act of the 102nd General Assembly.
25(Source: P.A. 101-168, eff. 1-1-20; 102-6, eff. 7-1-21.)
 
26    Section 99. Effective date. This Act takes effect upon

 

 

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1becoming law.