093_HB3482
LRB093 04838 WGH 07766 b
1 AN ACT in relation to civil procedure.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Code of Civil Procedure is amended by
5 changing 2-1303 as follows:
6 (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303)
7 Sec. 2-1303. Interest on judgment. Judgments recovered
8 in any court shall draw interest at the rate of 9% per annum
9 from the date the cause of action accruedof the judgment
10 until satisfied or 6% per annum when the judgment debtor is a
11 unit of local government, as defined in Section 1 of Article
12 VII of the Constitution, a school district, a community
13 college district, or any other governmental entity. When
14 judgment is entered upon any award, report or verdict,
15 interest shall be computed at the above rate, from the date
16 the cause of action accruedtime when made or rendered to the
17 datetime of entering judgment upon the same, and included in
18 the judgment. Interest shall be computed and charged only on
19 the unsatisfied portion of the judgment as it exists from
20 time to time. The judgment debtor may by tender of payment
21 of judgment, costs and interest accrued to the date of
22 tender, stop the further accrual of interest on such judgment
23 notwithstanding the prosecution of an appeal, or other steps
24 to reverse, vacate or modify the judgment.
25 (Source: P.A. 85-907.)
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.