Vetoed by Governor JB Pritzker

Vote Smart's Synopsis:

Vote to concur with senate amendments and pass a bill that authorizes prejudgment interest to be charged in Personal Injury and Wrongful Death lawsuits.

Highlights:

• Specifies that "Consumer debt judgment" does not include any compensation for bodily injury or death, nor any judgment entered where the debt is guaranteed by or contains a joint and several liability provisions between a natural person and a business, whether or not that business is legally constituted under the laws of this State or any other state (Sec. 2-1303.b-1).

• Requires consumer debt judgments of $25,000 or less to draw interest from the date of the judgment until satisfied at the rate of 5% per annum (Sec. 2-1303.b-2).

• Authorizes the judgment debtor to, by tender of the payment of judgment, costs, and interest accrued to the date of tender, stop the further accrual of interest on the consumer debt judgment, notwithstanding the prosecution of an appeal, or other steps to reverse, vacate, or modify the judgment (Sec. 2-1303.b-3).

• Prohibits paying prejudgment interest in an action brought directly or vicariously against it by the injured party (Sec. 2-1303-4.d).

• Authorizes the trial court to, in its discretion, apportion any amount of prejudgment interest between the plaintiff and any agency or department of the State. In apportioning prejudgment interest as provided in this Section, the court shall consider the plaintiff's hardship from the time of injury to the date of judgment and the effort required to obtain the judgment (Sec. 2-1303-4.f).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that authorizes prejudgment interest to be charged in Personal Injury and Wrongful Death lawsuits.

Highlights:

• Specifies that "Consumer debt judgment" does not include any compensation for bodily injury or death, nor any judgment entered where the debt is guaranteed by or contains a joint and several liability provisions between a natural person and a business, whether or not that business is legally constituted under the laws of this State or any other state (Sec. 2-1303.b-1).

• Requires consumer debt judgments of $25,000 or less to draw interest from the date of the judgment until satisfied at the rate of 5% per annum (Sec. 2-1303.b-2).

• Authorizes the judgment debtor to, by tender of the payment of judgment, costs, and interest accrued to the date of tender, stop the further accrual of interest on the consumer debt judgment, notwithstanding the prosecution of an appeal, or other steps to reverse, vacate, or modify the judgment (Sec. 2-1303.b-3).

• Prohibits paying prejudgment interest in an action brought directly or vicariously against it by the injured party (Sec. 2-1303-4.d).

• Authorizes the trial court to, in its discretion, apportion any amount of prejudgment interest between the plaintiff and any agency or department of the State. In apportioning prejudgment interest as provided in this Section, the court shall consider the plaintiff's hardship from the time of injury to the date of judgment and the effort required to obtain the judgment (Sec. 2-1303-4.f).

Full Bill Text