Illinois 96th Regular Session Status: In Committee

SB 184 — CIV PRO-PREJUDGMENT INTEREST

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 96th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Code of Civil Procedure. Provides that prejudgment interest must be awarded in an action at law or in arbitration from the date the party from whom damages are sought is given written notice of the claim for money damages or the action or arbitration is filed, whichever is earlier, until the award or judgment is entered. Provides that the notice must refer to the statute and be tendered by personal service by the sheriff or a private process server; certified mail, return receipt requested; or any documented method considered an accepted business practice. The notice may be sent by the party seeking money damages or his or her attorney to the party from whom money damages are sought, that party's attorney, or that party's liability insurer. Provides that the monthly prejudgment interest rate shall be calculated by the Comptroller and published on his or her website each month. Provides that the monthly prejudgment interest rate shall be calculated by adding 2% to the interest rate of the one-year Treasury constant maturity stated in the last H15 report of the previous month, published by the Federal Reserve System. Provides that a defendant may avoid paying prejudgment interest by making a written offer of settlement to the plaintiff any time after that defendant files an answer, but no later than 120 days after filing an answer. Provides that if the plaintiff does not accept that offer of settlement in writing within 30 days of receipt, and the plaintiff's award or judgment against that defendant is less than or equal to that offer of settlement, no prejudgment interest may be awarded against that defendant. The parties may agree in writing to extend the 120-day period. Provides that these provisions do not apply to: (1) A unit of local government, school district, community college district, or other governmental entity. (2) An action in small claims. (3) A claim for punitive damages. (4) If the action is governed by a more specific State statute, including but not limited to the Interest Act, or preemptive federal law. Provides that these provisions apply only to causes of action accruing on or after the effective date. Effective January 1, 2010.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Assignments

  3. Senate Committee Amendment No. 1 Referred to Assignments

  4. Senate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine

  5. Postponed - Judiciary

  6. Assigned to Judiciary

  7. Referred to Assignments

  8. First Reading

  9. Filed with Secretary by Sen. William R. Haine

Sponsors

  • William R. Haine · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • William R. Haine

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

What does SB 184 do?
Amends the Code of Civil Procedure. Provides that prejudgment interest must be awarded in an action at law or in arbitration from the date the party from whom damages are sought is given written notice of the claim for money damages or the action or arbitration is filed, whichever is earlier, until the award or judgment is entered. Provides that the notice must refer to the statute and be tendered by personal service by the sheriff or a private process server; certified mail, return receipt requested; or any documented method considered an accepted business practice. The notice may be sent by the party seeking money damages or his or her attorney to the party from whom money damages are sought, that party's attorney, or that party's liability insurer. Provides that the monthly prejudgment interest rate shall be calculated by the Comptroller and published on his or her website each month. Provides that the monthly prejudgment interest rate shall be calculated by adding 2% to the interest rate of the one-year Treasury constant maturity stated in the last H15 report of the previous month, published by the Federal Reserve System. Provides that a defendant may avoid paying prejudgment interest by making a written offer of settlement to the plaintiff any time after that defendant files an answer, but no later than 120 days after filing an answer. Provides that if the plaintiff does not accept that offer of settlement in writing within 30 days of receipt, and the plaintiff's award or judgment against that defendant is less than or equal to that offer of settlement, no prejudgment interest may be awarded against that defendant. The parties may agree in writing to extend the 120-day period. Provides that these provisions do not apply to: (1) A unit of local government, school district, community college district, or other governmental entity. (2) An action in small claims. (3) A claim for punitive damages. (4) If the action is governed by a more specific State statute, including but not limited to the Interest Act, or preemptive federal law. Provides that these provisions apply only to causes of action accruing on or after the effective date. Effective January 1, 2010.
Who sponsors SB 184?
SB 184 is sponsored by William R. Haine.
What is the current status of SB 184?
This bill died with 96th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 184?
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