Introduced
by
To require that interest paid on money judgments in civil cases be tied to the five-year treasury note rate, rather than the current statutory 12 percent. If the contract at issue contained a different interest rate, the interest would be that amount.
Referred to the Committee on Civil Law and the Judiciary
Substitute offered
Which reflects changes adopted following committee testimony and discussion.
The substitute passed by voice vote
Substitute offered
by
The substitute passed by voice vote
Amendment offered
by
To narrow the scope of the bill.
The amendment failed 47 to 51 (details)
Passed in the House 55 to 49 (details)
To require that interest paid on money judgments in civil cases be tied to the five-year treasury note rate, rather than the current statutory 12 percent. If the contract at issue contained a different interest rate, the interest would be that amount.
Substitute offered
by
To retain the existing statutory 12 percent interest rate for a note, bond, land contract, insurance contract, or other written instrument evidencing indebtedness, notwithstanding a different rate contained in the contract.
The substitute failed 12 to 21 (details)
Passed in the Senate 21 to 12 (details)
To require that interest paid on money judgments in civil cases be tied to the five-year treasury note rate, rather than the current statutory 12 percent. If the contract at issue contained a different interest rate, the interest would be that amount.
