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
For legislation to change the interest rate on treble damages. The Judiciary.
AI Summary
This bill seeks to change the interest rate on treble damages awarded in cases involving violations of Chapter 93A of the Massachusetts General Laws. Specifically, it amends Sections 9, 6B, and 6C of Chapter 93A and Chapter 231, respectively, to provide that in any action resulting in a verdict, finding, or order for treble damages, the interest added by the court clerk shall be capped at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand. This aims to reduce the interest liability in treble damage settlements.
Committee Categories
Justice
Sponsors (1)
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/H3370 |
| Bill | https://malegislature.gov/Bills/191/H3370.pdf |
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