summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to prejudgment interest rates on damages awarded in tort actions and contract actions. The Judiciary.
AI Summary
This bill amends the General Laws of Massachusetts to change the prejudgment interest rates on damages awarded in tort and contract actions. Specifically, it replaces the current fixed interest rate of 12% per annum with a variable rate calculated based on the weekly average one-year constant maturity Treasury yield for the calendar week preceding the date of the judgment. This change aims to align the prejudgment interest rate more closely with prevailing market conditions.
Committee Categories
Justice
Sponsors (9)
Paul Frost (R),
Susan Gifford (R),
Bradford Hill (R),
Steven Howitt (R),
Randy Hunt (R),
Brad Jones (R),
Elizabeth Poirier (R),
Todd Smola (R),
Mike Soter (R),
Last Action
Accompanied a study order, see H5081 (on 11/12/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H1459 |
| Bill | https://malegislature.gov/Bills/191/H1459.pdf |
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