Bill > S03057

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 standard 9% per annum interest rate. The bill defines "medical debt" as any obligation to pay money arising from medical care provided by a licensed hospital or healthcare professional. The one-year treasury bill rate will be calculated and published monthly by the Office of Court Administration to determine the applicable interest rate on medical debt judgments entered on or after the 45th day the bill becomes law.