Bill Amendment: IL SB0072 | 2021-2022 | 102nd General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: CIV PRO-PREJUDGMENT INTEREST
Status: 2021-05-28 - Public Act . . . . . . . . . 102-0006 [SB0072 Detail]
Download: Illinois-2021-SB0072-House_Amendment_002.html
Bill Title: CIV PRO-PREJUDGMENT INTEREST
Status: 2021-05-28 - Public Act . . . . . . . . . 102-0006 [SB0072 Detail]
Download: Illinois-2021-SB0072-House_Amendment_002.html
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1 | AMENDMENT TO SENATE BILL 72
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2 | AMENDMENT NO. ______. Amend Senate Bill 72 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Code of Civil Procedure is amended by | ||||||
5 | changing Section 2-1303 as follows:
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6 | (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)
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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 |
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1 | time of entering judgment upon the same, and included in the | ||||||
2 | judgment.
Interest shall be computed and charged only on the | ||||||
3 | unsatisfied portion of
the judgment as it exists from time to | ||||||
4 | time. The judgment debtor may by
tender of payment of | ||||||
5 | judgment, costs and interest
accrued to the date of tender, | ||||||
6 | stop the further accrual of interest on such
judgment | ||||||
7 | notwithstanding the prosecution of an appeal, or other steps | ||||||
8 | to
reverse, vacate or modify the judgment.
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9 | (b)(1) As used in this Section: | ||||||
10 | "Consumer debt" means money or property, or the | ||||||
11 | equivalent, due or owing, or alleged to be due or owing, from a | ||||||
12 | natural person by reason of a transaction in which property, | ||||||
13 | services, or money is acquired by that natural person | ||||||
14 | primarily for personal, family, or household purposes. | ||||||
15 | "Consumer debt judgment" means a judgment recovered in any | ||||||
16 | court against one or more natural persons arising out of | ||||||
17 | consumer debt. "Consumer debt judgment" does not include any | ||||||
18 | compensation for bodily injury or death, nor any judgment | ||||||
19 | entered where the debt is guaranteed by or contains a joint and | ||||||
20 | several liability provision between a natural person and a | ||||||
21 | business, whether or not that business is legally constituted | ||||||
22 | under the laws of this State or any other state. | ||||||
23 | (2) Notwithstanding subsection (a), consumer debt | ||||||
24 | judgments of $25,000 or less shall draw interest from the date | ||||||
25 | of the judgment until satisfied at the rate of 5% per annum. | ||||||
26 | (3) The judgment debtor may, by tender of payment of |
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1 | judgment, costs, and interest accrued to the date of tender, | ||||||
2 | stop the further accrual of interest on the consumer debt | ||||||
3 | judgment, notwithstanding the prosecution of an appeal, or | ||||||
4 | other steps to reverse, vacate, or modify the judgment. | ||||||
5 | (4) This subsection applies to all consumer debt judgments | ||||||
6 | entered into after the effective date of this amendatory Act | ||||||
7 | of the 101st General Assembly. | ||||||
8 | (c) In all actions brought to recover damages for personal | ||||||
9 | injury or wrongful death resulting from or occasioned by the | ||||||
10 | conduct of any other person or entity, whether by negligence, | ||||||
11 | willful and wanton misconduct, intentional conduct, or strict | ||||||
12 | liability of the other person or entity, the plaintiff shall | ||||||
13 | recover prejudgment interest on all damages, except punitive | ||||||
14 | damages, sanctions, statutory attorney's fees, and statutory | ||||||
15 | costs, set forth in the judgment. Prejudgment interest shall | ||||||
16 | begin to accrue on the date the action is filed. If the | ||||||
17 | plaintiff voluntarily dismisses the action and refiles, the | ||||||
18 | accrual of prejudgment interest shall be tolled from the date | ||||||
19 | the action is voluntarily dismissed to the date the action is | ||||||
20 | refiled. In entering judgment for the plaintiff in the action, | ||||||
21 | the court shall add to the amount of the judgment interest | ||||||
22 | calculated at the rate of 6% per annum on the amount of the | ||||||
23 | judgment, minus punitive damages, sanctions, statutory | ||||||
24 | attorney's fees, and statutory costs. If the judgment is | ||||||
25 | greater than the amount of the highest written settlement | ||||||
26 | offer made by the defendant within 12 months after the later of |
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1 | the effective date of this amendatory Act of the 102nd General | ||||||
2 | Assembly or the filing of the action and not accepted by the | ||||||
3 | plaintiff within 90 days after the date of the offer or | ||||||
4 | rejected by the plaintiff, interest added to the amount of | ||||||
5 | judgment shall be an amount equal to interest calculated at | ||||||
6 | the rate of 6% per annum on the difference between the amount | ||||||
7 | of the judgment, minus punitive damages, sanctions, statutory | ||||||
8 | attorney's fees, and statutory costs, and the amount of the | ||||||
9 | highest written settlement offer. If the judgment is equal to | ||||||
10 | or less than the amount of the highest written settlement | ||||||
11 | offer made by the defendant within 12 months after the later of | ||||||
12 | the effective date of this amendatory Act of the 102nd General | ||||||
13 | Assembly or the filing of the action and not accepted by the | ||||||
14 | plaintiff within 90 days after the date of the offer or | ||||||
15 | rejected by the plaintiff, no prejudgment interest shall be | ||||||
16 | added to the amount of the judgment. For the purposes of this | ||||||
17 | subsection, withdrawal of a settlement offer by defendant | ||||||
18 | shall not be considered a rejection of the offer by the | ||||||
19 | plaintiff. Notwithstanding any other provision of this | ||||||
20 | subsection, prejudgment interest shall accrue for no longer | ||||||
21 | than 5 years. | ||||||
22 | Notwithstanding any other provision of law, neither the | ||||||
23 | State, a unit of local government, a school district, | ||||||
24 | community college district, nor any other governmental entity | ||||||
25 | is liable to pay prejudgment interest in an action brought | ||||||
26 | directly or vicariously against it by the injured party. |
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1 | For any personal injury or wrongful death occurring before | ||||||
2 | the effective date of this amendatory Act of the 102nd General | ||||||
3 | Assembly, the prejudgment interest shall begin to accrue on | ||||||
4 | the later of the date the action is filed or the effective date | ||||||
5 | of this amendatory Act of the 102nd General Assembly. | ||||||
6 | (Source: P.A. 101-168, eff. 1-1-20 .)
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7 | Section 99. Effective date. This Act takes effect July 1, | ||||||
8 | 2021.".
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