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Senate Counsel, Research
and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 530 - Interest Rate on Verdicts, Awards, and Judgments
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Author:
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Senator Julianne E. Ortman
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Prepared By:
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Date:
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April 27, 2011
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This bill amends the law providing for an award of interest on verdicts, awards, and judgments to eliminate the separate interest rate of ten percent for a judgment or award over $50,000 and makes conforming changes in the law. In addition, the interest statute would not apply to a judgment or award upon which interest is entitled to be recovered under the law governing breach of an insurance policy. This section would be effective August 1, 2011, and apply to judgments and awards entered on or after that date.
KP:cs
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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Last review or update: 04/27/2011
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