MN HF3085

Amends Minnesota Statutes section 549.09 to modify interest rate calculations on judgments and awards in civil actions.

For judgments or awards of $50,000 or less, or for any amount against the state or a political subdivision, interest shall be computed as simple interest per annum based on one-year United States Treasury bill rates, rounded to the nearest 1% or 4%, whichever is greater.

For judgments or awards over $50,000 (excluding those against the state or political subdivisions), the interest rate shall be 10% per annum until paid.

State court administrator shall determine the annual interest rate by December 20 of each year based on Federal Reserve System treasury yield data and communicate rates to court administrators, sheriffs, and arbitrators.

Effective on the day following final enactment and applies to judgments and awards finally entered on or after that date.