Under existing law, post-judgment interest on money judgments bears interest at the rate of 12 percent.
This bill would provide that judgments, other than judgments based on a contract action, would bear interest from the date of entry of the judgment at a rate equal to the weekly average one-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the nearest calendar week preceding the date of judgment, and to provide that post-judgment interest would be computed daily to the date of payment, and compounded annually.
Forwarded to Governor
Assigned Act No. 2011-521.
Signature Requested
Enrolled
Oden intended to abstain due to a conflict of itnerest
Passed Second House
Motion to Read a Third Time and Pass adopted Roll Call 930
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Judiciary
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 323
Motion to Adopt adopted Roll Call 322
Judiciary first Substitute Offered
Third Reading Passed
Read for the second time and placed on the calendar with 1 substitute and
Read for the first time and referred to the Senate committee on Judiciary
Source: Alabama Legislature