Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to judiciary |
Jun 10, 2021 |
committed to rules |
May 19, 2021 |
advanced to third reading |
May 12, 2021 |
2nd report cal. |
May 11, 2021 |
1st report cal.1000 |
May 05, 2021 |
print number 3057a |
May 05, 2021 |
amend and recommit to judiciary |
Jan 27, 2021 |
referred to judiciary |
Senate Bill S3057A
2021-2022 Legislative Session
Sponsored By
(D, WF) 33rd Senate District
Archive: Last Bill Status - In Senate Committee Judiciary 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
Votes
Bill Amendments
2021-S3057 - Details
- Current Committee:
- Senate Judiciary
- Law Section:
- Civil Practice Law and Rules
- Laws Affected:
- Amd §5004, CPLR
- Versions Introduced in 2019-2020 Legislative Session:
-
S8731
2021-S3057 - Sponsor Memo
BILL NUMBER: S3057 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
2021-S3057 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3057 2021-2022 Regular Sessions I N S E N A T E January 27, 2021 ___________ Introduced by Sen. RIVERA -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary 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. LBD00594-01-1
co-Sponsors
(D) 26th Senate District
(D, WF) 47th Senate District
(D) 16th Senate District
(D) 32nd Senate District
2021-S3057A (ACTIVE) - Details
- Current Committee:
- Senate Judiciary
- Law Section:
- Civil Practice Law and Rules
- Laws Affected:
- Amd §5004, CPLR
- Versions Introduced in 2019-2020 Legislative Session:
-
S8731
2021-S3057A (ACTIVE) - Sponsor Memo
BILL NUMBER: S3057A 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 lesser of the one-year United States treasury bill rate or three per centum per annum. Section two of the bill provides an effective date.
2021-S3057A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3057--A 2021-2022 Regular Sessions I N S E N A T E January 27, 2021 ___________ Introduced by Sen. RIVERA -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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. (A) Interest shall be at the rate of nine per centum per annum, except where otherwise provided by statute, PROVIDED THAT THE ANNUAL RATE OF INTEREST TO BE PAID ON A JUDGMENT OR ACCRUED CLAIM IN AN ACTION ARISING OUT OF A MEDICAL DEBT SHALL BE THE LESSER OF THE ONE-YEAR UNITED STATES TREASURY BILL RATE OR THREE PER CENTUM PER ANNUM. (B) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: 1. "MEDICAL DEBT" MEANS ANY OBLIGATION OR ALLEGED OBLIGATION OF ANY NATURAL PERSON TO PAY MONEY ARISING OUT OF MEDICAL CARE PROVIDED TO THAT PERSON BY A HOSPITAL LICENSED UNDER ARTICLE TWENTY-EIGHT OF THE PUBLIC HEALTH LAW OR A HEALTH CARE PROFESSIONAL AUTHORIZED UNDER TITLE EIGHT OF THE EDUCATION LAW. 2. "ONE-YEAR UNITED STATES TREASURY BILL RATE" MEANS THE WEEKLY AVER- AGE ONE-YEAR CONSTANT MATURITY TREASURY YIELD, AS PUBLISHED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, FOR THE FIRST FULL CALENDAR WEEK OF THE CALENDAR MONTH PRECEDING THE DATE IN WHICH THE JUDGMENT AWARDING DAMAGES IS ENTERED. (C) THE ONE-YEAR UNITED STATES TREASURY BILL RATE SHALL BE CALCULATED BY THE OFFICE OF COURT ADMINISTRATION. THE OFFICE OF COURT ADMINIS- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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