§ 5/2-1712 Equivalent lump sum value

Codes > Illinois Compiled Statutes > Chapter 735 > Act 5 : Article II > Part 17 : 5/2-1712 Equivalent

§ 2-1712. Equivalent lump sum value.

    When required to do so under Part 17 of Article II of the “Code of Civil Procedure”, the court shall determine the equivalent lump sum value in accordance with this Section. Non-economic loss shall not, under any Section of this Part, be subject to discounting. The only portion of damages subject to discounting in this Part is future economic loss.

    The court shall determine the equivalent lump sum value of any future economic loss by applying the discount factor, compounded annually, to those elements of damages for future economic loss, and then adding, without discounting, those elements of damages for future non-economic loss. The discount factor shall be 6%.