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House adopts amendments to raise interest on small judgments in SB225
Summary
Senate Bill 225, which adjusts interest applied to certain civil judgments arising from goods and services, was amended and passed the House unanimously; sponsor described higher interest for judgments related to goods and services and framed it as an incentive for collection.
The Utah House on March 9 adopted an amendment and passed Senate Bill 225, which adjusts how interest accrues on certain judgments entered in district and justice courts.
Representative Snow, speaking as sponsor, said SB225 leaves the normal interest rate (the federal rate plus 2%) in place generally but "the only difference this bill does is with respect to judgments that are entered as a result of goods or services, the interest rate is at 10% plus the federal interest rate." He described the measure as an incentive to improve collection for small civil judgments involving goods and services.
Snow offered amendment number 2 (dated March 7) to clarify language in the bill about the interest rate during appeal periods; the amendment was adopted without recorded opposition. In explaining application, Snow said the bill covers judgments related to goods and services and noted a threshold referenced in floor remarks as $10,000 or less for certain interest provisions.
The House adopted the amendment and then passed SB225 as amended. The clerk announced the final vote as 70 yay and 0 nay. The bill will be returned to the Senate for further consideration.
