IL HB0929

Reduces the interest rate on judgments arising from child support orders from 9% per annum to 5% per annum, calculated monthly on the unpaid child support balance.

Excludes accrued interest from the unpaid child support balance when calculating subsequent monthly interest, preventing compound interest calculations.

Requires the Illinois Department of Healthcare and Family Services to determine the percentage of simple interest on unpaid child support obligations annually beginning in 2021, allowing for future rate adjustments.

Maintains existing 9% interest rate for all other judgments, with exceptions for judgments against local governments and school districts which remain at 6%.

Takes effect immediately upon becoming law.