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GA HB658

Bill

Official Source

Status

Introduced

1/9/2012

Primary Sponsor

Edward Lindsey

Click for details

Origin

House of Representatives

2011-2012 Regular Session

AI Summary

  • Amends Georgia Code Section 51-12-13 to update how triers of fact determine the present value of future damages, including medical expenses, living expenses, lost wages, and other economic damages
  • Allows present value of future damages to be calculated using either expert testimony or a statutory discount rate of 5 percent per annum, replacing the previous provision that only specified a 5 percent interest rate
  • Expands the categories of damages subject to present value reduction from "future earnings, annuity, or amounts" to explicitly include future medical expenses, living expenses, lost wages, and other economic damages
  • Prohibits the introduction of evidence showing the cost of any specific private investment product, including annuities, in determining present value
  • Amends Article 1 of Chapter 12 of Title 51 of the Official Code of Georgia Annotated, relating to general provisions for damages

Legislative Description

Damages; reduction of earnings to present value; change provisions

Last Action

House Committee Favorably Reported

2/29/2012

Committee Referrals

Judiciary1/9/2012

Full Bill Text

No bill text available