Beginning June 1, 2000, and annually each June 1 thereafter, the maximum amount that may be recovered from an authorized driver under this subsection (b) shall be increased by $500 above the maximum recovery allowed immediately prior to June 1 of that year.
The maximum recovery for a motor vehicle with a Manufacturer's Suggested Retail Price (MSRP) of more than $50,000 under this subsection (b-5) shall not exceed $40,000 on the effective date of this amendatory Act of the 99th General Assembly. On October 1, 2016, and for the next 3 years thereafter, the maximum amount that may be recovered from an authorized driver under this subsection (b-5) shall be increased by $2,500 above the prior year's maximum recovery. On October 1, 2020, and for each year thereafter, the maximum amount that may be recovered from an authorized driver under this subsection (b-5) shall be increased by $1,000 above the prior year's maximum recovery.
625 ILCS 5/6-305.2