Full Text of HB0048 102nd General Assembly
HB0048 102ND GENERAL ASSEMBLY |
| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022 HB0048 Introduced 1/14/2021, by Rep. Rita Mayfield 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. Provides that the definition of "consumer debt" does not include any money due or owing, or alleged to be due or owing, from a natural person for an arrearage of child support. Provides that the definition of "consumer debt judgment" does not include any judgment entered for an arrearage of child support.
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| | A BILL FOR |
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| 1 | | AN ACT concerning civil law.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Code of Civil Procedure is amended by | 5 | | changing 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 | 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.
| 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" does not include any money due or owing, or | 9 | | alleged to be due or owing, from a natural person for an | 10 | | arrearage of child support. | 11 | | "Consumer debt judgment" means a judgment recovered in any | 12 | | court against one or more natural persons arising out of | 13 | | consumer debt. "Consumer debt judgment" does not include any | 14 | | compensation for bodily injury or death, nor any judgment | 15 | | entered where the debt is guaranteed by or contains a joint and | 16 | | several liability provision between a natural person and a | 17 | | business, whether or not that business is legally constituted | 18 | | under the laws of this State or any other state , or any | 19 | | judgment entered for an arrearage of child support . | 20 | | (2) Notwithstanding subsection (a), consumer debt | 21 | | judgments of $25,000 or less shall draw interest from the date | 22 | | of the judgment until satisfied at the rate of 5% per annum. | 23 | | (3) The judgment debtor may, by tender of payment of | 24 | | judgment, costs, and interest accrued to the date of tender, | 25 | | stop the further accrual of interest on the consumer debt | 26 | | judgment, notwithstanding the prosecution of an appeal, or |
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| 1 | | other steps to reverse, vacate, or modify the judgment. | 2 | | (4) This subsection applies to all consumer debt judgments | 3 | | entered into after the effective date of this amendatory Act | 4 | | of the 101st General Assembly. | 5 | | (Source: P.A. 101-168, eff. 1-1-20 .)
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