Update on Illinois Prejudgment Interest Law
On March 25, Governor Pritzker vetoed HB 3360. Per the Governor’s veto statement, he supports allowing prejudgment interest but felt this particular legislation would be burdensome on hospitals and medical professionals. He noted that other states have more reasonable prejudgment interest rate structures and expressed disagreement with the bill allowing prejudgment interest on non-economic damages.
The sponsors of HB 3360 are negotiating a compromise that “includes stronger protections for health care providers while encouraging the faster resolution of these cases.” We will keep you apprised of any pertinent updates. Contact Thomas J. Olson with any questions.
