AL HB236

Changes post-judgment interest rate for non-contract judgments from a fixed 12 percent to the weekly average one-year constant maturity Treasury yield published by the Federal Reserve Board for the nearest calendar week preceding the judgment date.

Requires post-judgment interest to be computed daily to the date of payment and compounded annually, replacing the previous simple interest calculation method.

Preserves the existing rule that judgments based on contract actions bear interest at the rate stated in the contract from the date of the cause of action.

Applies fees allowed to trustees, executants, administrators, and attorneys that are taxed as court costs to bear interest at the same Treasury-yield-based rate from the date of entry.

Becomes effective on the first day of the third month following passage and approval, applying only to judgments entered on or after the effective date.