Bill > H5179

This bill amends the calculation of interest in civil actions by replacing the current fixed 12% interest rate with a more dynamic rate based on the yield of 52-week U.S. Treasury bills. Specifically, the interest will now be calculated using the "coupon issue yield equivalent" as determined by the U.S. Secretary of the Treasury, using the average accepted auction price from the most recent 52-week Treasury bill auction immediately preceding the date the civil action is filed. This new method will apply to both prejudgment and post-judgment interest, which means the interest will be added to the damages from the date of filing and will continue to accrue after the judgment is entered. The bill removes previous language that had different interest rate provisions for medical malpractice cases, effectively standardizing the interest calculation across all civil actions. The change aims to provide a more market-responsive approach to calculating interest by tying it to current Treasury bill rates instead of a static percentage. The bill will take effect immediately upon its passage.

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