Senate Bill 866 Summary

• Establishes procedures for paying future damages through periodic payments rather than lump-sum awards when present value equals or exceeds $100,000.

• Requires courts to specify recipient, payment amount, payment intervals, and duration in judgments ordering periodic payments for medical care, health care services, pain and suffering, loss of consortium, or loss of earnings.

• Mandates defendants without adequate insurance provide evidence of financial responsibility through annuities, U.S. bonds, liability insurance, or court-approved funding to ensure payment obligations are met.

• Provides that periodic payments continue to the estate of a deceased recipient for lost future earnings, and security is returned to defendant upon payment termination.

• Becomes effective November 1, 2011.