Illinois Governor Signs SB0072, Amending 735 ILCS 5/2-1301 Providing For Prejudgment Interest To Personal Injury Plaintiffs
On May 28, Illinois Governor J.B. Pritzker signed SB 0072 into law, revolutionizing the landscape for personal injury plaintiffs. This new legislation introduces a 6% prejudgment interest rate, enhancing the financial recovery for those injured. With interest accruing from the date a complaint is filed, this law aims to ensure fair compensation for damages, including future and non-economic losses. However, it comes with specific limitations and exclusions. Curious about how this could impact your case or the legal landscape in Illinois? Read on to discover the details and implications of this significant legal change!
Prejudgment Interest Legislative Developments in Illinois: The Prejudgment Interest Ball is Back in Governor Pritzker’s Court
After Governor Pritzker vetoed H.B. 3360, the Illinois Legislature quickly passed S.B. 72, which would amend 735 ILCS 5/2-1303 to allow prejudgment interest in personal injury and wrongful death cases. Supporters argue the bill would encourage earlier settlements and improve efficiency, while opponents contend it unfairly penalizes defendants—particularly healthcare providers—by increasing litigation costs and punishing delays beyond their control. With Illinois lacking caps on damages, critics warn that uncapped awards plus accrued interest could overcompensate plaintiffs and undermine defendants’ right to trial.
Illinois Governor Vetoes Initial Bill Providing for Pre-Judgment Interest to Personal Injury Plaintiffs; Revised Legislation is Pending
In a significant move that could impact personal injury cases across the state, Illinois Governor has vetoed a crucial bill aimed at providing pre-judgment interest to plaintiffs. This legislation, which sought to ensure fair compensation for those injured due to negligence, has sparked a heated debate among lawmakers and advocates. As discussions continue and revised legislation is on the horizon, the implications for victims seeking justice remain uncertain. What does this mean for the future of personal injury claims in Illinois? Stay tuned as we delve deeper into the evolving landscape of this critical issue.
Illinois Governor Vetoes Initial Bill Providing for Pre-Judgment Interest to Personal Injury Plaintiffs; Revised Legislation is Pending
On March 25, 2021, Illinois Governor J.B. Pritzker vetoed HB3360, legislation that would have significantly expanded the availability of pre-judgment interest in personal injury and wrongful death cases. Although that bill was rejected, the issue remains unresolved. A revised proposal—SB0072—has since passed both chambers of the Illinois legislature, offering a narrower framework that reduces the interest rate and limits the accrual period. Despite these modifications, the bill continues to raise concerns, as it permits the accrual of interest prior to any determination of liability and extends to future and non-economic damages, preserving many of the fundamental issues presented by the original legislation.
Illinois HB 3360 Would Increase Pre-Judgment Interest to Personal Injury Plaintiffs
Illinois HB 3360 would significantly expand plaintiffs’ ability to recover prejudgment interest in personal injury and wrongful death actions by imposing 9% annual interest from the date a defendant receives notice of an injury—regardless of when suit is filed. Critics warn the bill could incentivize delayed filings, inflate damages, and unfairly penalize defendants for delays beyond their control. The legislation has drawn strong opposition from business, medical, and defense groups, which continue to urge Governor Pritzker to veto the measure.