Illinois 2023-2024 Regular Session

Illinois House Bill HB2988 Compare Versions

Only one version of the bill is available at this time.

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2988 Introduced , by Rep. Patrick Windhorst 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 amount of prejudgment interest the court shall add to the judgment to an amount calculated at a rate of 5% (instead of 6%) per annum. Effective immediately. LRB103 05194 LNS 50210 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2988 Introduced , by Rep. Patrick Windhorst SYNOPSIS AS INTRODUCED: 735 ILCS 5/2-1303 from Ch. 110, par. 2-1303 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 amount of prejudgment interest the court shall add to the judgment to an amount calculated at a rate of 5% (instead of 6%) per annum. Effective immediately. LRB103 05194 LNS 50210 b LRB103 05194 LNS 50210 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2988 Introduced , by Rep. Patrick Windhorst SYNOPSIS AS INTRODUCED:
3	3	735 ILCS 5/2-1303 from Ch. 110, par. 2-1303 735 ILCS 5/2-1303 from Ch. 110, par. 2-1303
4	4	735 ILCS 5/2-1303 from Ch. 110, par. 2-1303
5	5	Amends the Code of Civil Procedure. In a provision concerning actions brought to recover damages for personal injury or wrongful death, changes the amount of prejudgment interest the court shall add to the judgment to an amount calculated at a rate of 5% (instead of 6%) per annum. Effective immediately.
6	6	LRB103 05194 LNS 50210 b LRB103 05194 LNS 50210 b
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8	8	A BILL FOR
9	9	HB2988LRB103 05194 LNS 50210 b HB2988 LRB103 05194 LNS 50210 b
10	10	HB2988 LRB103 05194 LNS 50210 b
11	11	1 AN ACT concerning civil law.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Code of Civil Procedure is amended by
15	15	5 changing Section 2-1303 as follows:
16	16	6 (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)
17	17	7 Sec. 2-1303. Interest on judgment.
18	18	8 (a) Except as provided in subsection (b), judgments
19	19	9 recovered in any court shall draw interest at the rate of 9%
20	20	10 per annum from the date of the judgment until satisfied or 6%
21	21	11 per annum when the judgment debtor is a unit of local
22	22	12 government, as defined in Section 1 of Article VII of the
23	23	13 Constitution, a school district, a community college district,
24	24	14 or any other governmental entity. When judgment is entered
25	25	15 upon any award, report, or verdict, interest shall be computed
26	26	16 at the above rate, from the time when made or rendered to the
27	27	17 time of entering judgment upon the same, and included in the
28	28	18 judgment. Interest shall be computed and charged only on the
29	29	19 unsatisfied portion of the judgment as it exists from time to
30	30	20 time. The judgment debtor may by tender of payment of
31	31	21 judgment, costs, and interest accrued to the date of tender,
32	32	22 stop the further accrual of interest on such judgment
33	33	23 notwithstanding the prosecution of an appeal, or other steps
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2988 Introduced , by Rep. Patrick Windhorst SYNOPSIS AS INTRODUCED:
38	38	735 ILCS 5/2-1303 from Ch. 110, par. 2-1303 735 ILCS 5/2-1303 from Ch. 110, par. 2-1303
39	39	735 ILCS 5/2-1303 from Ch. 110, par. 2-1303
40	40	Amends the Code of Civil Procedure. In a provision concerning actions brought to recover damages for personal injury or wrongful death, changes the amount of prejudgment interest the court shall add to the judgment to an amount calculated at a rate of 5% (instead of 6%) per annum. Effective immediately.
41	41	LRB103 05194 LNS 50210 b LRB103 05194 LNS 50210 b
42	42	LRB103 05194 LNS 50210 b
43	43	A BILL FOR
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49	49	735 ILCS 5/2-1303 from Ch. 110, par. 2-1303
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68	68	1 to reverse, vacate, or modify the judgment.
69	69	2 (b)(1) As used in this Section:
70	70	3 "Consumer debt" means money or property, or the
71	71	4 equivalent, due or owing, or alleged to be due or owing, from a
72	72	5 natural person by reason of a transaction in which property,
73	73	6 services, or money is acquired by that natural person
74	74	7 primarily for personal, family, or household purposes.
75	75	8 "Consumer debt judgment" means a judgment recovered in any
76	76	9 court against one or more natural persons arising out of
77	77	10 consumer debt. "Consumer debt judgment" does not include any
78	78	11 compensation for bodily injury or death, nor any judgment
79	79	12 entered where the debt is guaranteed by or contains a joint and
80	80	13 several liability provision between a natural person and a
81	81	14 business, whether or not that business is legally constituted
82	82	15 under the laws of this State or any other state.
83	83	16 (2) Notwithstanding subsection (a), consumer debt
84	84	17 judgments of $25,000 or less shall draw interest from the date
85	85	18 of the judgment until satisfied at the rate of 5% per annum.
86	86	19 (3) The judgment debtor may, by tender of payment of
87	87	20 judgment, costs, and interest accrued to the date of tender,
88	88	21 stop the further accrual of interest on the consumer debt
89	89	22 judgment, notwithstanding the prosecution of an appeal, or
90	90	23 other steps to reverse, vacate, or modify the judgment.
91	91	24 (4) This subsection applies to all consumer debt judgments
92	92	25 entered into after the effective date of this amendatory Act
93	93	26 of the 101st General Assembly.
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104	104	1 (c) In all actions brought to recover damages for personal
105	105	2 injury or wrongful death resulting from or occasioned by the
106	106	3 conduct of any other person or entity, whether by negligence,
107	107	4 willful and wanton misconduct, intentional conduct, or strict
108	108	5 liability of the other person or entity, the plaintiff shall
109	109	6 recover prejudgment interest on all damages, except punitive
110	110	7 damages, sanctions, statutory attorney's fees, and statutory
111	111	8 costs, set forth in the judgment. Prejudgment interest shall
112	112	9 begin to accrue on the date the action is filed. If the
113	113	10 plaintiff voluntarily dismisses the action and refiles, the
114	114	11 accrual of prejudgment interest shall be tolled from the date
115	115	12 the action is voluntarily dismissed to the date the action is
116	116	13 refiled. In entering judgment for the plaintiff in the action,
117	117	14 the court shall add to the amount of the judgment interest
118	118	15 calculated at the rate of 5% 6% per annum on the amount of the
119	119	16 judgment, minus punitive damages, sanctions, statutory
120	120	17 attorney's fees, and statutory costs. If the judgment is
121	121	18 greater than the amount of the highest written settlement
122	122	19 offer made by the defendant within 12 months after the later of
123	123	20 the effective date of this amendatory Act of the 102nd General
124	124	21 Assembly or the filing of the action and not accepted by the
125	125	22 plaintiff within 90 days after the date of the offer or
126	126	23 rejected by the plaintiff, interest added to the amount of
127	127	24 judgment shall be an amount equal to interest calculated at
128	128	25 the rate of 5% 6% per annum on the difference between the
129	129	26 amount of the judgment, minus punitive damages, sanctions,
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140	140	1 statutory attorney's fees, and statutory costs, and the amount
141	141	2 of the highest written settlement offer. If the judgment is
142	142	3 equal to or less than the amount of the highest written
143	143	4 settlement offer made by the defendant within 12 months after
144	144	5 the later of the effective date of this amendatory Act of the
145	145	6 102nd General Assembly or the filing of the action and not
146	146	7 accepted by the plaintiff within 90 days after the date of the
147	147	8 offer or rejected by the plaintiff, no prejudgment interest
148	148	9 shall be added to the amount of the judgment. For the purposes
149	149	10 of this subsection, withdrawal of a settlement offer by
150	150	11 defendant shall not be considered a rejection of the offer by
151	151	12 the plaintiff. Notwithstanding any other provision of this
152	152	13 subsection, prejudgment interest shall accrue for no longer
153	153	14 than 5 years.
154	154	15 Notwithstanding any other provision of law, neither the
155	155	16 State, a unit of local government, a school district,
156	156	17 community college district, nor any other governmental entity
157	157	18 is liable to pay prejudgment interest in an action brought
158	158	19 directly or vicariously against it by the injured party.
159	159	20 For any personal injury or wrongful death occurring before
160	160	21 the effective date of this amendatory Act of the 102nd General
161	161	22 Assembly, the prejudgment interest shall begin to accrue on
162	162	23 the later of the date the action is filed or the effective date
163	163	24 of this amendatory Act of the 102nd General Assembly.
164	164	25 (Source: P.A. 101-168, eff. 1-1-20; 102-6, eff. 7-1-21.)
165	165	26 Section 99. Effective date. This Act takes effect upon
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