IL HB4916

Amends Section 2-2301 of the Code of Civil Procedure to expand settlement requirements in personal injury, property damage, wrongful death, and other private tort actions involving money damages claims.

Requires settling defendants to tender a release to plaintiffs within 14 days of written confirmation of settlement.

Requires settling defendants to pay all settlement sums within 30 days of plaintiff's tender of executed release and all applicable documents.

Allows plaintiffs to protect third-party liens and subrogation interests (including attorney's liens, healthcare provider liens, and government health program rights) through signed releases, attorney escrow agreements, defendant escrow agreements, or other mutually agreed methods.

Provides that defendants failing to pay timely are subject to judgment for the settlement amount plus costs, attorney fees, and interest calculated from the date of tender.