SB 01121 - Postjudgment Interest

• Caps postjudgment interest on money judgments at 10% per year when installment payment orders are issued by the court.

• Requires interest to accrue on unpaid portions of judgments under installment payment orders, regardless of the original judgment terms.

• Limits prejudgment and postjudgment interest to 5% per year maximum for debts arising from hospital services, with interest awards made discretionary in such cases.

• Modifies the general legal interest rate from 8% to 8% per year but subordinates it to the 10% postjudgment interest cap established in Section 52-356d.

• Effective date: October 1, 2013.