2025 -- H 5179

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LC000846

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2025

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A N   A C T

RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY --

JUDGMENTS, ORDERS, AND DECREES

     Introduced By: Representative Alex S. Finkelman

     Date Introduced: January 24, 2025

     Referred To: House Judiciary

     It is enacted by the General Assembly as follows:

     SECTION 1. Section 9-21-10 of the General Laws in Chapter 9-21 entitled "Judgments,

Orders, and Decrees" is hereby amended to read as follows:

     9-21-10. Interest in civil actions.

     (a) In any civil action in which a verdict is rendered or a decision made for pecuniary

damages, there shall be added by the clerk of the court to the amount of damages interest at the rate

of twelve percent (12%) per annum thereon from the date the cause of action accrued of the filing

of the civil action calculated at a rate equal to the coupon issue yield equivalent, as determined by

the United States secretary of the treasury, of the average accepted auction price for the last auction

of fifty-two (52) week United States treasury bills settled immediately preceding the date of the

filing of the action, which shall be included in the judgment entered therein. Post-judgment interest

shall be calculated at the rate of twelve percent (12%) per annum and accrue on both the principal

amount of the judgment and the prejudgment interest entered therein a rate equal to the coupon

issue yield equivalent, as determined by the United States secretary of the treasury, of the average

accepted auction price for the last auction of fifty-two (52) week United States treasury bills settled

immediately preceding the date of the filing of the action. This section shall not apply until entry

of judgment or to any contractual obligation where interest is already provided.

     (b) Subsection (a) shall not apply in any action filed on or after January 1, 1987, for

personal injury or wrongful death filed against a licensed physician, hospital, clinic, health

maintenance organization, professional service corporation providing health care services, dentist,

or dental hygienist based on professional negligence. In all such medical malpractice actions in

which a verdict is rendered or a decision made for pecuniary damages, there shall be added by the

clerk of the court to the amount of damages interest at the rate of twelve percent (12%) per annum

thereon from the date of written notice of the claim by the claimant or his or her representative to

the malpractice liability insurer, or to the medical or dental health care provider or the filing of the

civil action, whichever first occurs.

     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY --

JUDGMENTS, ORDERS, AND DECREES

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     This act would amend the calculations of interest in civil actions and provide that the

interest would be calculated a rate equal to the coupon issue yield equivalent, as determined by the

United States secretary of the treasury, of the average accepted auction price for the last auction of

fifty-two (52) week United States treasury bills settled immediately preceding the date of the filing

of the action.

     This act would take effect upon passage.

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LC000846

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