SPRINGFIELD – Gov. J.B. Pritzker signed legislation Friday allowing for plaintiffs to collect pretrial interest on money awarded in some civil suits, after vetoing a previous version of the provision in March.
An amendment to Senate Bill 72, introduced by Rep. Jay Hoffman, D-Swansea, grants 6% pretrial interest on money awarded to plaintiffs in personal injury and wrongful death lawsuits in civil court.
Hospitals and health care providers are typical defendants in these cases.
Before the passage of the legislation, plaintiffs received only 9% interest post-judgment in Illinois. That would be interest accrued on the plaintiff’s monetary award from when the judgment is made to the time the monetary judgment is received.
Now, additional interest on monetary awards is retroactively applied from the time the lawsuit is filed to the time a judgment is made in favor of the plaintiff.
Both apply only to cases settled in court, encouraging defendants to settle…