MA S1075

Bill

MA S1075

Relative to prejudgment interest rates

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to prejudgment interest rates. The Judiciary.

AI Summary

This bill amends Sections 6B and 6C of Chapter 231 of the General Laws to change the prejudgment interest rate from a fixed 12% per annum to a variable rate calculated based on the weekly average 1-year constant maturity treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date of the judgment. This change aims to tie the prejudgment interest rate to a more market-based benchmark instead of a fixed rate.

Committee Categories

Justice

Sponsors (2)

Jason Lewis (D)*, Ruth Balser (D),

Last Action

Accompanied a study order, see S2665 (on 02/07/2022)

Official Document

https://malegislature.gov/Bills/192/S1075

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S1075
Bill	https://malegislature.gov/Bills/192/S1075.pdf

Bill	Bill Name	Last Action	Type
H1693	Relative to prejudgment interest rates	Accompanied a study order, see H4844	Similar To
S1931	Relative to equalizing the Department of Revenue interest rates	Accompanied H2956	Similar To
S2665	Order relative to authorizing the joint committee on the Judiciary to make an investigation and study of certain current Senate documents relative to judiciary matters	Discharged to the committee on Senate Rules	Replaced by

Bill > S1075

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

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