MN SF2673

Amends Minnesota Statutes section 549.09 to exempt judgments and awards against the state and political subdivisions from the 10 percent interest rate applied to larger judgments.

Judgments or awards of $50,000 or less, or any judgment against the state or political subdivision regardless of amount, shall accrue simple interest based on the one-year constant maturity treasury yield (rounded to nearest one percent, minimum 4 percent annually).

Judgments or awards over $50,000 against private parties (not the state or political subdivisions) continue to accrue interest at 10 percent per year until paid.

Defines "state" to include all departments, boards, agencies, commissions, courts, and entities in the executive, legislative, or judicial branches; defines "political subdivision" to include towns, cities, counties, school districts, and other state political subdivisions.

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