Amendment #529 to H3400

Index Interest Rate on Treble Damages Awards

Representatives Kuros of Uxbridge, O'Connell of Taunton and Orrall of Lakeville move to amend the bill by adding the following section:

"SECTION XXXX.

SECTION1.  Section 9 of chapter 93A of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following new subsection:--

(9)  In any action based on a violation of this section resulting in a verdict, finding, or order for judgement of treble damages, interest shall be added by the clerk of the court to the amount of damages at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand.

SECTION 2. Section 6B of chapter 231 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following:--

In all actions based on a violation of Chapter 93A, upon a verdict, finding or order for judgment for treble damages, interest shall be added by the clerk of the court to the amount of damages at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand.

SECTION 3. Section 6C of chapter 231 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following:--

In all actions based on a violation of Chapter 93A, upon a verdict, finding or order for judgment for treble damages, interest shall be added by the clerk of the court to the amount of damages at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand."