IN SB0441

Legislative Description

Interest on judgments for money. Provides that the payment of interest on judgments for money shall be paid at the following rate if there was no contract between the parties to the suit, or if a rate of interest was not agreed upon in the original contract sued upon: (1) An annual rate of 8%, with respect to the accrual of interest before July 1, 2019, on any part of a judgment that is paid before July 1, 2019. (2) The lesser of: (A) 8%; or (B) the applicable adjusted rate of interest calculated by the department of state revenue for the nonpayment of taxes as of the date of payment of the interest on the judgment; with respect to the accrual of interest after June 30, 2019, on any part of a judgment that is unpaid after June 30, 2019, even if the judgment was rendered before July 1, 2019.

Last Action

Committee Referrals