IL HB5112

Amends the Renter's Financial Responsibility and Protection Act to establish an annual adjustment mechanism for collision damage waiver charges by rental companies.

Beginning January 1, 2013, rental companies may increase collision damage waiver charges annually on the first day of the year by the lesser of: (i) the Consumer Price Index for all Urban Consumers for the previous calendar year, or (ii) 5%.

Maintains the existing base cap of $12.50 per full or partial 24-hour rental day for collision damage waivers.

Takes effect immediately upon becoming law.