(735 ILCS 5/2-1712)
(from Ch. 110, par. 2-1712)
Equivalent lump sum value.
When required to do so under
Part 17 of Article II of the "Code of Civil Procedure", the court shall
determine the equivalent lump sum value in accordance with this Section.
Non-economic loss shall not, under any Section of this Part, be subject
to discounting. The only portion of damages subject to discounting in this
Part is future economic loss.
The court shall determine the equivalent lump sum value of any future
economic loss by applying the discount factor, compounded annually, to
those elements of damages for future economic loss, and then adding,
without discounting, those elements of damages for future non-economic
loss. The discount factor shall be 6%.
(Source: P.A. 84-7.)