summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
Relative to prejudgment interest rates. The Judiciary.
AI Summary
This bill amends the General Laws of Massachusetts to change the prejudgment interest rate from a fixed rate of 12% per annum to a variable rate calculated based on 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. The bill aims to update the prejudgment interest rate to reflect current economic conditions rather than using a fixed rate that may not accurately reflect market rates over time.
Committee Categories
Justice
Sponsors (5)
Last Action
Accompanied a study order, see H4517 (on 06/05/2024)
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/193/H1578 |
| BillText | https://malegislature.gov/Bills/193/H1578.pdf |
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