IL HB5508

Amends the Workers' Compensation Act to impose higher interest rates on awards when public employers appeal arbitrator decisions, effective July 1, 2026

Requires interest to accrue retroactively to the date of injury at a rate of 10% or the yield on 26-week U.S. Treasury securities, whichever is greater

Applies specifically to public employers who file petitions to review arbitrator awards before the Commission

Establishes limitations on interest assessed under this provision and defines "public employer" for purposes of the Act