Market-based Interest Rates On Judgments
The current rate of postjudgment interest is 2% over the Kansas City discount rate with a floor of 8%. The bill eliminates the floor.
The current interest rate for judgments for personal injury damages caused by a tort is 9%. The bill ties this interest rate to the current rate of postjudgment interest.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)