Full Text of SB0072 102nd General Assembly
SB0072enr 102ND GENERAL ASSEMBLY |
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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 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 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 6% per annum on the difference between the amount | 26 | | of the judgment, minus punitive damages, sanctions, statutory |
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| 1 | | attorney's fees, and statutory costs, and the amount of the | 2 | | highest written settlement offer. If the judgment is equal to | 3 | | or less than the amount of the highest written settlement | 4 | | offer made by the defendant within 12 months after the later of | 5 | | the effective date of this amendatory Act of the 102nd General | 6 | | Assembly or the filing of the action and not accepted by the | 7 | | plaintiff within 90 days after the date of the offer or | 8 | | rejected by the plaintiff, no prejudgment interest shall be | 9 | | added to the amount of the judgment. For the purposes of this | 10 | | subsection, withdrawal of a settlement offer by defendant | 11 | | shall not be considered a rejection of the offer by the | 12 | | 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 .)
| 26 | | Section 99. Effective date. This Act takes effect July 1, |
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| 1 | | 2021. |
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