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IL HB3360

Bill

Official Source

Status

Enrolled

1/13/2021

Primary Sponsor

Jay Hoffman

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Amends Section 2-1303 of the Code of Civil Procedure regarding interest on judgments
  • Establishes 5% annual interest rate on consumer debt judgments of $25,000 or less, compared to the standard 9% rate for other judgments
  • Defines consumer debt judgments as judgments against natural persons for personal, family, or household purchases, excluding bodily injury compensation and debts with business liability provisions
  • Adds prejudgment interest at 9% per annum for personal injury and wrongful death actions, beginning when defendant receives notice of injury, with local public entities exempted from paying prejudgment interest
  • Allows trial courts discretion to apportion prejudgment interest between plaintiffs and state agencies, considering plaintiff hardship and effort required to obtain judgment

Legislative Description

FORECLOSURE-FILING FEES

Last Action

Passed Both Houses

1/13/2021

Committee Referrals

Assignments5/31/2019
Financial Institutions4/24/2019
Assignments4/4/2019
Judiciary - Civil3/27/2019
Commercial Law3/6/2019
Judiciary - Civil3/5/2019
Rules2/15/2019

Full Bill Text

No bill text available