Bill Text: IL HB0681 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Code of Civil Procedure. Contains a statement of legislative purpose. 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.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-11-29 - Rule 19(b) / Motion Referred to Rules Committee [HB0681 Detail]
Download: Illinois-2021-HB0681-Introduced.html
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1 | AN ACT concerning civil law.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 1. Purpose. The purpose of this Act is to clarify | |||||||||||||||||||
5 | that the recent changes to the interest rate for consumer debt | |||||||||||||||||||
6 | judgments made by Public Act 101-168 did not lower the | |||||||||||||||||||
7 | interest rate for arrearages of child support payments, which | |||||||||||||||||||
8 | will stay the same to protect the interests of children.
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9 | Section 5. The Code of Civil Procedure is amended by | |||||||||||||||||||
10 | changing Section 2-1303 as follows:
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11 | (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)
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12 | Sec. 2-1303. Interest on judgment. | |||||||||||||||||||
13 | (a) Except as provided in subsection (b), judgments | |||||||||||||||||||
14 | recovered in
any court shall draw interest at the rate of 9% | |||||||||||||||||||
15 | per annum from the date
of the judgment until satisfied or 6% | |||||||||||||||||||
16 | per annum when the judgment debtor is a unit
of local | |||||||||||||||||||
17 | government, as defined in Section 1 of Article VII of the | |||||||||||||||||||
18 | Constitution,
a school district, a community college district, | |||||||||||||||||||
19 | or any other governmental
entity. When judgment is entered | |||||||||||||||||||
20 | upon any award, report or verdict, interest
shall be computed | |||||||||||||||||||
21 | at the above rate, from the time when made or rendered
to the | |||||||||||||||||||
22 | time of entering judgment upon the same, and included in the |
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1 | judgment.
Interest shall be computed and charged only on the | ||||||
2 | unsatisfied portion of
the judgment as it exists from time to | ||||||
3 | time. The judgment debtor may by
tender of payment of | ||||||
4 | judgment, costs and interest
accrued to the date of tender, | ||||||
5 | stop the further accrual of interest on such
judgment | ||||||
6 | notwithstanding the prosecution of an appeal, or other steps | ||||||
7 | to
reverse, vacate or modify the judgment.
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8 | (b)(1) As used in this Section: | ||||||
9 | "Consumer debt" means money or property, or the | ||||||
10 | equivalent, due or owing, or alleged to be due or owing, from a | ||||||
11 | natural person by reason of a transaction in which property, | ||||||
12 | services, or money is acquired by that natural person | ||||||
13 | primarily for personal, family, or household purposes. | ||||||
14 | "Consumer debt" does not include any money due or owing, or | ||||||
15 | alleged to be due or owing, from a natural person for an | ||||||
16 | arrearage of child support. | ||||||
17 | "Consumer debt judgment" means a judgment recovered in any | ||||||
18 | court against one or more natural persons arising out of | ||||||
19 | consumer debt. "Consumer debt judgment" does not include any | ||||||
20 | compensation for bodily injury or death, nor any judgment | ||||||
21 | entered where the debt is guaranteed by or contains a joint and | ||||||
22 | several liability provision between a natural person and a | ||||||
23 | business, whether or not that business is legally constituted | ||||||
24 | under the laws of this State or any other state , nor any | ||||||
25 | judgment entered for an arrearage of child support . | ||||||
26 | (2) Notwithstanding subsection (a), consumer debt |
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1 | judgments of $25,000 or less shall draw interest from the date | ||||||
2 | of the judgment until satisfied at the rate of 5% per annum. | ||||||
3 | (3) The judgment debtor may, by tender of payment of | ||||||
4 | judgment, costs, and interest accrued to the date of tender, | ||||||
5 | stop the further accrual of interest on the consumer debt | ||||||
6 | judgment, notwithstanding the prosecution of an appeal, or | ||||||
7 | other steps to reverse, vacate, or modify the judgment. | ||||||
8 | (4) This subsection applies to all consumer debt judgments | ||||||
9 | entered into after the effective date of this amendatory Act | ||||||
10 | of the 101st General Assembly. | ||||||
11 | (Source: P.A. 101-168, eff. 1-1-20 .)
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