SB24-062 Summary

• Prohibits plaintiffs' attorneys from collecting contingency fees on the portion of personal injury judgments attributable to 9% prejudgment interest accrual

• Applies to tort-based personal injury actions where courts currently add 9% annual interest on damages from the date the action accrued until judgment satisfaction

• Takes effect July 1, 2024, and applies only to actions filed on or after that date

• Legislative findings state the prohibition encourages attorneys to resolve claims expeditiously and prevents delays in compensating injured plaintiffs