HB 2552

Abstract

Amends the Code of Civil Procedure. Requires the court to determine the total amount payable to all class members of a class action lawsuit if all of the members are paid the amount to which they are entitled pursuant to the judgment. Provides that unpaid residue and the accrued interest on the unpaid residue shall be paid to nonprofit organizations or foundations to support projects that will benefit the class or similarly situated persons or that promote the law consistent with the objectives and purposes of the underlying cause of action. Provides that, if the class action was a consumer class action, then the court shall amend the judgment to direct the defendant to pay the sum of the unpaid residue and the interest on the unpaid residue to the Illinois Class Action Environmental Trust Fund. Creates the Class Action Board. Grants the Board the authority to promulgate rules governing the allocation of monies received pursuant to the Act. Amends the State Finance Act to create the Illinois Class Action Environmental Trust Fund. Effective immediately.