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IN HB1240
Bill
Status
1/16/2018
Primary Sponsor
Thomas Washburne
Click for details
AI Summary
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Eliminates postjudgment interest for the first 10 business days when there is no contract for interest and no appeal is filed, provided full payment is made within that period.
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Establishes an 8% annual interest rate beginning after the 10-business-day grace period if judgment remains unpaid and no appeal has been filed.
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Applies a reduced interest rate based on IC 6-8.1-10-1 during the appeal period for judgments with no contract for interest.
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Provides a 10-business-day grace period after the final appellate order is issued before 8% annual interest resumes on any unpaid balance.
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Applies these provisions to Medicaid provider overpayment interest charges under IC 12-15-22-1 and IC 12-17.6-6-2, effective July 1, 2018.
Legislative Description
Postjudgment interest charges. Provides that, in calculating postjudgment interest in matters where there is no contract for interest: (1) no interest is due for the first 10 business days if there is no appeal of the judgment; and (2) a reduced rate of interest is owed if an appeal is filed.
Last Action
First reading: referred to Committee on Judiciary
1/16/2018