FL H0567

Changes judgment interest rate adjustments from annual (January 1) to quarterly (January 1, April 1, July 1, October 1) based on the Federal Reserve Bank of New York's 12-month average discount rate.

Reduces the basis points added to the federal discount rate from 500 to 400 basis points when calculating the judgment interest rate.

Requires existing judgments to have their interest rates adjusted annually on January 1 each year, except for judgments entered by court clerks under specified family law and child support statutes (ss. 55.141, 61.14, 938.29, 938.30).

Removes the word "annually" from section 717.1341 regarding interest rates on unclaimed property claims to conform with the new quarterly adjustment system.

Effective date: July 1, 2011.