FL S0866

Changes the calculation of interest rates on court judgments from an annual to a quarterly basis, with rates set on December 1, March 1, June 1, and September 1 to take effect at the start of each calendar quarter

Reduces the basis points added to the Federal Reserve Bank of New York discount rate from 500 to 400 when calculating judgment interest rates

Extends the averaging period for the federal discount rate from the preceding year to the preceding 12 months

Requires judgment interest rates to be adjusted quarterly rather than remaining fixed at the rate established when the judgment was obtained

Conforms unclaimed property statutes to reflect the change from annual to quarterly interest rate adjustments