Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 13, 2020 |
referred to rules |
Senate Bill S8731
2019-2020 Legislative Session
Sponsored By
(D, WF) 33rd Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
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) - Sponsor Memo
BILL NUMBER: S8731 SPONSOR: RIVERA TITLE OF BILL: An act to amend the civil practice law and rules, in relation to the rate of interest on a judgment for medical debt PURPOSE: To require the interest rate on medical debt be the same as the one-year United States treasury bill rate. SUMMARY OF PROVISIONS: Section one of the bill amends Section 5004 of the civil practice law and rules to require the interest rate on medical debt be the same as the one-year United States treasury bill rate. Section two of the bill provides an effective date. Justification: Medical debt is a massive problem for many New Yorkers, especially for
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
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