H.B. 192
         PERSONAL INJURY JUDGMENT INTEREST

house committee Amendments

Amendment 1 February 23, 2009 3:19 pm



Representative Francis D. Gibson proposes the following amendments:

1.    Page 1, Lines 9 through 17 :    

             9          This bill amends the date that a plaintiff may claim interest on special damages[, and
             10      defines interest as simple interest and not compounded interest].
             11      Highlighted Provisions:
             12          This bill:
             13          .    requires interest accrued on special damages to be simple interest
{   , not compound

             14      interest   }
  unless the action involves a medical provider who calculates otherwise;

    . makes calculation of prejudgment interest the responsibility of the defendant  
; and

             15          .    changes the date from which interest is accrued for special damages from the date of
             16      the occurrence of the act giving rise to the cause of the action to the date that the
             17      damage was actually incurred.

2.    Page 2, Lines 35 through 44 :    

             35          (2) It is the duty of the court, in entering judgment for plaintiff in that action, to add to
             36      the amount of special damages actually incurred that are assessed by the verdict of the jury, or
             37      found by the court, prejudgment interest on that amount calculated at the legal rate, as defined
             38      in Section 15-1-1
  or       ,        if a medical expense, at the customary interest rate of the medical provider, whichever is greater,       [ from the date of the occurrence of the act giving rise to the cause of action

             39      to the date of entering the judgment,] and to include it in that judgment.
             40          (3) Interest claimed on any special damage shall be computed from the date the damage
             41      was actually incurred.
             42          (4) Interest under Subsections (1) and (2) shall be simple and not compounded
  , unless the medical services provider customarily compounds interest, in which case the interest under Subsections (1) and (2) shall be compounded in the same manner       .

    
  (5) In all actions brought to recover damages for personal injury, the defendant shall accurately calculate any prejudgment interest and establish the accuracy of the calculation. If the defendant does not, any prejudgment interest on special damages shall be calculated at the legal rate as defined in Section 15-1-1 from the date of the occurrence of the act giving rise to the cause of action to the date judgment is entered.      

             43          [(3)]
{   (5)   }        (6)       As used in this section, "special damages actually incurred" does not include

             44      damages for future medical expenses, loss of future wages, or loss of future earning capacity.

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