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IN SB0486
Bill
Status
1/14/2015
Primary Sponsor
Susan Glick
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AI Summary
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Court must send written notice of any punitive damage award to the Indiana Attorney General's office.
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The state's interest in 75% of punitive damage awards vests immediately upon verdict, with the state becoming a creditor for that portion.
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Attorney General may intervene in civil actions within 30 days of receiving notice to protect the state's interest in punitive damages from being reduced or eliminated by court order or settlement agreement.
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Attorney General must consent to any settlement that reduces or eliminates the state's interest in punitive damage awards.
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Punitive damages are distributed as follows: 25% to the award recipient and 75% to the violent crime victims compensation fund (100% to nonprofit organizations exempt under Section 501(c)(3) of the Internal Revenue Code).
Legislative Description
Punitive damages. Provides that when an award in a civil action includes a punitive damage award: (1) the court shall send a written copy of the punitive damage award to the office of the attorney general; (2) the state's interest in the punitive damage award that is deposited into the violent crime victims compensation fund vests; and (3) the state becomes a creditor with respect to that part of the punitive damage award that is deposited into the violent crime victims compensation fund. Allows the attorney general to intervene in an action concerning the award of punitive damages to protect
Last Action
First Reading: referred to Committee on Civil Law
1/14/2015