Bill > HB2678

This bill aims to change the amounts of prejudgment and post-judgment interest to reflect today's economic conditions. The key provisions are: 1. Prejudgment interest: The prejudgment interest rate is set at 2 percentage points above the Fifth Federal Reserve District secondary discount rate in effect on January 2 of the year the right to bring the action accrued, with a minimum of 4% and a maximum of 9% per annum. This rate remains constant until the date of the judgment or decree. 2. Post-judgment interest: The post-judgment interest rate is set at 2 percentage points above the Fifth Federal Reserve District secondary discount rate in effect on January 2 of the year the judgment or decree is entered, with a minimum of 4% and a maximum of 9% per annum. This rate remains constant for that particular judgment or decree. 3. The administrative office of the West Virginia Supreme Court of Appeals will annually determine the prejudgment and post-judgment interest rates and notify the courts and members of the West Virginia State Bar. 4. For cases where the right to bring the action accrued prior to 2009, the court may award prejudgment interest at the rate in effect on January 2 of the year the right to bring the action accrued.

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http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=2678&year=2017&sessiontype=RS&btype=bill