DE SB85

Removes language from Delaware Code §301(a) stating that judgments entered after May 13, 1980 shall bear the interest rate in the contract sued upon.

Establishes new post-judgment interest rate of 5% over the Federal Reserve discount rate (including any surcharge) or the contract rate, whichever is less.

Applies the new interest rate to all judgments entered on agreements governed by §301(a), regardless of whether the contract rate is expressed.

Clarifies that the post-judgment interest accrues from the date of judgment entry.

Does not affect the usury statute or other special circumstances under existing law.