Bill > H2241

This bill proposes to change how interest is calculated on certain court judgments in Massachusetts. Specifically, it amends two sections of Chapter 231 of the General Laws. The first change, to section 6B, states that in cases involving personal injury, consequential damages (damages that result from the initial injury), or property damage, interest will be added to the awarded damages. This interest will be calculated from the date the lawsuit began until the date of the judgment, at a rate equal to the weekly average 1-year constant maturity Treasury yield, which is a measure of interest rates on U.S. government debt, as published by the Federal Reserve System for the week before the judgment. The second change, to section 60K, applies a similar interest calculation to malpractice and negligence cases against healthcare providers, also from the date of the lawsuit's commencement to the judgment date, using the same Treasury yield rate for actions started after the bill becomes law. In both instances, the added interest can increase the total award beyond any legal maximum liability.