HB0048ham001 102ND GENERAL ASSEMBLY

Rep. Rita Mayfield

Filed: 3/17/2021

10200HB0048ham001 LRB102 04081 LNS 23816 a

AMENDMENT TO HOUSE BILL 48

AMENDMENT NO. ______. Amend House Bill 48 by replacing everything after the enacting clause with the following:

"Section 5. The Code of Civil Procedure is amended by changing Section 2-1303 as follows:

(735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)

Sec. 2-1303. Interest on judgment.

(a) Except as provided in subsection (b), judgments recovered in any court shall draw interest at the rate of 9% per annum from the date of the judgment until satisfied or 6% per annum when the judgment debtor is a unit of local government, as defined in Section 1 of Article VII of the Constitution, a school district, a community college district, or any other governmental entity. When judgment is entered upon any award, report or verdict, interest shall be computed at the above rate, from the time when made or rendered to the time of entering judgment upon the same, and included in the judgment. Interest shall be computed and charged only on the unsatisfied portion of the judgment as it exists from time to time. The judgment debtor may by tender of payment of judgment, costs and interest accrued to the date of tender, stop the further accrual of interest on such judgment notwithstanding the prosecution of an appeal, or other steps to reverse, vacate or modify the judgment.

(b)(1) As used in this Section:

"Consumer debt" means money or property, or the equivalent, due or owing, or alleged to be due or owing, from a natural person by reason of a transaction in which property, services, or money is acquired by that natural person primarily for personal, family, or household purposes.

"Consumer debt judgment" means a judgment recovered in any court against one or more natural persons arising out of consumer debt. "Consumer debt judgment" does not include any compensation for bodily injury or death, nor any judgment entered where the debt is guaranteed by or contains a joint and several liability provision between a natural person and a business, whether or not that business is legally constituted under the laws of this State or any other state, nor any judgment prior to January 1, 2020, nor any judgment entered for an arrearage of child support.

(2) Notwithstanding subsection (a), consumer debt judgments of $25,000 or less shall draw interest from the date of the judgment until satisfied at the rate of 5% per annum.

(3) The judgment debtor may, by tender of payment of judgment, costs, and interest accrued to the date of tender, stop the further accrual of interest on the consumer debt judgment, notwithstanding the prosecution of an appeal, or other steps to reverse, vacate, or modify the judgment.

(4) This subsection applies to all consumer debt judgments entered into after the effective date of this amendatory Act of the 101st General Assembly.

(c) Notwithstanding any other provision of this Code, child support judgments shall draw interest at a rate of:

(1) for an individual with a gross income less than the State median income as reported by the United States Census Bureau, 0% interest per annum;

(2) for an individual with a gross income equal to or up to 2 times the median State income as reported by the United States Census Bureau, 3% interest per annum, which shall automatically be increased or decreased, as applicable, by a percentage equal to the percentage change in the consumer price index-u during the preceding 12-month calendar year; or

(3) for an individual with a gross income over 2 times the median State income as reported by the United States Census Bureau, 9% per annum.

As used in this subsection, "consumer price index-u" has the meaning provided in Section 8-2006. This subsection applies to all child support judgments entered into after the effective date of this amendatory Act of the 102nd General Assembly.

(Source: P.A. 101-168, eff. 1-1-20.)".