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House clears housekeeping change to prejudgment interest rate
Summary
Lawmakers amended HB 195 to replace a fixed 8% prejudgment interest rate on special damages with the statutory 'legal rate' (section 15-1-1) and passed the measure 64–1; sponsor described the bill as clarifying existing practice.
Representatives debated House Bill 195, a housekeeping bill about prejudgment interest on special damages in personal injury cases. The committee-added amendment removes a fixed 8% per annum rate and substitutes the statute's "legal rate," citing section 15-1-1 to ensure the provision follows whatever rate the legislature defines as the legal rate. The sponsor said the change clarifies that interest should apply only to expenses already incurred, not to anticipated future medical expenses.
After motion and explanation the House voted; the clerk reported House Bill 195, as amended, "having received 64 affirmative votes, 1 negative vote" and forwarded it to the Senate.
