Budget Amendment ID: FY2018-S3-895

JUD 895

Prejudgment interest rates

Mr. Lewis moved that the proposed new text be amended by inserting, after section x, the following new section:-

"SECTION X. Section 6B of chapter 231 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out, in line 5, the words “at the rate of twelve per cent per annum” and inserting in place thereof the following:- calculated at a weekly average one-year constant maturity treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding date of the judgment.

SECTION Y. Section 6C of said chapter 231 is hereby amended by striking out, in line 4, the words “at the rate of twelve per cent per annum” and inserting in place thereof the following:- calculated at a Weekly average one-year constant maturity treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding date of the judgment.

SECTION Z. Section 6C of said chapter 231 is hereby further amended by striking out, in line 7, the words “at the rate of twelve per cent annum” and inserting in place thereof the following:- calculated as set forth above."