Bill > S1149

This bill modifies the Massachusetts General Laws regarding prejudgment interest rates by replacing the existing fixed 12% per annum rate with a more dynamic rate based on the weekly average 1-year constant maturity treasury yield, as published by the Board of Governors of the Federal Reserve System. Specifically, the bill amends Sections 6B and 6C of Chapter 231, changing the interest rate calculation method to use the treasury yield for the calendar week preceding the date of the judgment. This change means that instead of a static 12% interest rate, the prejudgment interest rate will now fluctuate weekly based on federal treasury yields, potentially providing a more market-responsive approach to calculating interest in legal proceedings. The bill affects how interest is calculated on judgments before a final court decision, potentially making the interest rates more reflective of current economic conditions.

Justice

https://malegislature.gov/Bills/194/S1149