Bill > S08731

This bill amends the Civil Practice Law and Rules to tie the rate of interest on a judgment for medical debt to the one-year United States Treasury bill rate, rather than the default nine percent per annum interest rate. The bill applies to judgments awarded against hospitals licensed under Article 28 of the Public Health Law or health care professionals authorized under Title 8 of the Education Law. The one-year Treasury bill rate is defined as the weekly average one-year constant maturity Treasury yield, as published by the Federal Reserve, for the calendar week preceding the date of the judgment.