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First Substitute H.B. 42

Representative James A. Dunnigan proposes the following substitute bill:




Sponsor: James A. Dunnigan

             6      LONG TITLE
             7      General Description:
             8          This bill modifies provisions of the Judicial Code related to interest on judgments.
             9      Highlighted Provisions:
             10          This bill:
             11          .    changes the interest rate for certain judgments from 10% to the federal court system
             12      interest rate plus 4%; and
             13          .    makes technical changes.
             14      Monies Appropriated in this Bill:
             15          None
             16      Other Special Clauses:
             17          None
             18      Utah Code Sections Affected:
             19      AMENDS:
             20          78-27-44, as last amended by Chapter 123, Laws of Utah 1991
             22      Be it enacted by the Legislature of the state of Utah:
             23          Section 1. Section 78-27-44 is amended to read:
             24           78-27-44. Personal injury judgments -- Interest authorized.
             25          (1) In all actions brought to recover damages for personal injuries sustained by any

             26      person, resulting from or occasioned by the tort of any other person, corporation, association,
             27      or partnership, whether by negligence or willful intent of that other person, corporation,
             28      association, or partnership, and whether that injury shall have resulted fatally or otherwise, the
             29      plaintiff in the complaint may claim interest on the special damages actually incurred from the
             30      date of the occurrence of the act giving rise to the cause of action.
             31          (2) (a) It is the duty of the court, in entering judgment for plaintiff in [that] an action
             32      described in Subsection (1), to add to the amount of special damages actually incurred that are
             33      assessed by the verdict of the jury, or found by the court, interest on that amount calculated [at
             34      the legal rate, as defined] in [Section 15-1-1 ] accordance with Subsection (2)(b), from the date
             35      of the occurrence of the act giving rise to the cause of action to the date of entering the
             36      judgment, and to include it in that judgment.
             37          (b) For purposes of Subsection (2)(a), interest shall be calculated at the interest rate
             38      established for the federal court system under 28 U.S.C. Sec. 1961, as of January 1 of the year
             39      of the occurrence of the act giving rise to the cause of action described in Subsection (1), plus
             40      4%.
             41          (3) As used in this section, "special damages actually incurred" does not include
             42      damages for future medical expenses, loss of future wages, or loss of future earning capacity.

Legislative Review Note
    as of 2-2-04 11:15 AM

A limited legal review of this legislation raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel

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