Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. SB 866
       
       
       
       
       
       
                                Barcode 915130                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/14/2011           .                                
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       The Committee on Judiciary (Bogdanoff) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 14 - 31
    4  and insert:
    5  
    6         (1) On the first day of the month of each calendar quarter
    7  December 1 of each year, the Chief Financial Officer shall set
    8  the rate of interest that shall be payable on judgments or
    9  decrees for the calendar quarter year beginning January 1 by
   10  averaging the discount rate of the Federal Reserve Bank of New
   11  York for the preceding 12 months year, then adding 300 500 basis
   12  points to the averaged federal discount rate. The Chief
   13  Financial Officer shall inform the clerk of the courts and chief
   14  judge for each judicial circuit of the rate that has been
   15  established for the upcoming year. The interest rate established
   16  by the Chief Financial Officer shall take effect on January 1 of
   17  each following year. Judgments obtained on or after January 1,
   18  1995, shall use the previous statutory rate for time periods
   19  before January 1, 1995, for which interest is due and shall
   20  apply the rate set by the Chief Financial Officer for time
   21  periods after January 1, 1995, for which interest is due.
   22  Nothing contained herein shall affect a rate of interest
   23  established by written contract or obligation.
   24  
   25  ================= T I T L E  A M E N D M E N T ================
   26  And the title is amended as follows:
   27  
   28         Delete line 5
   29  and insert:
   30  
   31         calculation of the interest rate; removing provisions
   32         relating to the date the interest rate established by
   33         the Chief Financial Officer is to take effect;
   34         amending s.