Do you support this bill?

Senate Bill S8731

2019-2020 Legislative Session

Relates to the rate of interest on a judgment for medical debt

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

2019-S8731 (ACTIVE) - Details

See Assembly Version of this Bill:
A10814
Current Committee:
Senate Rules
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd §5004, CPLR
Versions Introduced in 2021-2022 Legislative Session:
S3057, A1538

2019-S8731 (ACTIVE) - Summary

Ties the rate of interest on a judgment for medical debt to the one-year United States treasury bill rate.

2019-S8731 (ACTIVE) - Sponsor Memo

2019-S8731 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8731
 
                             I N  S E N A T E
 
                               July 13, 2020
                                ___________
 
 Introduced  by  Sen.  RIVERA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the civil practice law and rules,  in  relation  to  the
   rate of interest on a judgment for medical debt
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 5004 of  the  civil  practice  law  and  rules,  as
 amended  by  chapter  258  of  the  laws  of 1981, is amended to read as
 follows:
   § 5004. Rate of interest. Interest shall be at the rate  of  nine  per
 centum  per  annum, except where otherwise provided by statute, PROVIDED
 THAT IN MEDICAL DEBT ACTIONS BY A HOSPITAL LICENSED UNDER ARTICLE  TWEN-
 TY-EIGHT  OF THE PUBLIC HEALTH LAW OR A HEALTH CARE PROFESSIONAL AUTHOR-
 IZED UNDER TITLE EIGHT OF THE EDUCATION LAW THE INTEREST RATE  SHALL  BE
 CALCULATED  AT  THE  ONE-YEAR  UNITED STATES TREASURY BILL RATE. FOR THE
 PURPOSES OF THIS SECTION, THE  "ONE-YEAR  UNITED  STATES  TREASURY  BILL
 RATE"  MEANS  THE  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 THE DATE OF THE ENTRY OF THE
 JUDGMENT AWARDING DAMAGE.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16926-01-0

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.