summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to prejudgment interest rates on damages awarded in tort actions and contract actions. The Judiciary.
AI Summary
This bill proposes to change the prejudgment interest rate on damages awarded in tort and contract actions from a fixed rate of 12% per annum to 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 set the prejudgment interest rate more in line with current market conditions, rather than using a fixed rate that may not reflect the prevailing economic environment.
Committee Categories
Justice
Sponsors (5)
Last Action
Accompanied a study order, see H4844 (on 06/09/2022)
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/192/H1693 |
| Bill | https://malegislature.gov/Bills/192/H1693.pdf |
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