Speaking on behalf of the business and medical communities in their districts, Senator Barickman sent a letter last week to Gov. Pritzker this week urging him to veto the prejudgment interest bill that was passed during the waning hours of the “lame-duck” session in January.
House Bill 3360 allows plaintiffs who win a personal injury or wrongful death case in court to be paid their judgment PLUS an additional nine percent interest on judgment dating from the time the defendant first learned of the injury.
If signed into law, House Bill 3360 would require the payment of prejudgment interest for costs that have not yet occurred and are not yet known, requiring employers to pay interest that could go back years. Meanwhile, the proposed measure would drive up healthcare costs at a time when medical providers are already overwhelmed and deter physicians from working in the state.
The Senator noted that businesses and medical providers are still reeling from the COVID-19 pandemic and the subsequent statewide shutdowns Gov. Pritzker unilaterally imposed on the state. As they are working to get back on their feet, Illinois’ job creators and healthcare industry cannot afford to have any new cost burdens placed on their shoulders, which would only further hamper their recovery.
House Bill 3360 was sent to the Governor on Feb. 4.