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S.B. 212

This document includes Senate 2nd Reading Floor Amendments incorporated into the bill on Mon, Mar 11, 2013 at 8:27 PM by lpoole. -->              1     




Chief Sponsor: Ralph Okerlund

House Sponsor: Daniel McCay


             7      LONG TITLE
             8      General Description:
             9          This bill amends provisions related to interest accrued in personal injury judgments.
             10      Highlighted Provisions:
             11          This bill:
             12          .    amends the rate calculation for prejudgment interest accrued in personal injury
             13      judgments.
             14      Money Appropriated in this Bill:
             15          None
             16      Other Special Clauses:
             17          None
             18      Utah Code Sections Affected:
             19      AMENDS:
             20          78B-5-824, as last amended by Laws of Utah 2009, Chapter 276

             22      Be it enacted by the Legislature of the state of Utah:
             23          Section 1. Section 78B-5-824 is amended to read:
             24           78B-5-824. Personal injury judgments -- Interest authorized.
             25          (1) In all actions brought to recover damages for personal injuries sustained by any
             26      person, caused by the negligence or willful intent of another person, corporation, association,
             27      or partnership, and whether the injury was fatal or otherwise, the plaintiff in the complaint may

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- 2 -
Senate 2nd Reading Amendments 3-11-2013 lp/ecm
             28      claim interest on special damages actually incurred [from the date of the occurrence of the act
             29      giving rise to the cause of action].
             30          (2) It is the duty of the court, in entering judgment for plaintiff in that action, to add to
             31      the amount of special damages actually incurred that are assessed by the verdict of the jury, or
             32      found by the court, prejudgment interest on that amount [calculated at 7.5% simple interest per
             33      annum, from the date of the occurrence of the act giving rise to the cause of action to the date
             34      of entering the judgment,] and to include it in that judgment. The court shall calculate
             35      prejudgement interest using a per annum rate, which is S. [ one ] two .S percentage S. [ point ]
             35a      points .S above the prime
             36      rate, as published by the board of governors of the federal reserve system on the first business
             37      day in January of the calendar year S. in which the plaintiff is first treated. [ in which the
             37a      judgment is entered, ] [ and ] The prejudgment interest rate applied may not be above 10 percent
             37b      nor below 5 percent. The prejudgment interest .S shall be computed as
             38      simple interest accruing during the period from the date S. [ 90 days after commencement of the
             39      lawsuit
] the plaintiff is first treated .S
to the date S. [ entering ] on which .S the judgment
             39a      S. is entered .S .
             40          (3) As used in this section, "special damages actually incurred" does not include
             41      damages for future medical expenses, loss of future wages, or loss of future earning capacity.
     S. (4) This section applies to injuries that occur after May 14, 2013. .S

Legislative Review Note
    as of 2-15-13 8:13 AM

Office of Legislative Research and General Counsel

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