On March 29, the Florida Senate Rules Committee approved SB 334, sponsored by Sen. Greg Steube (R-Sarasota) by a 10-1 margin. As amended, the anti-business, trial lawyer-backed “prejudgment interest” bill allows interest to be charged on economic damages from the date the injury or tort occurred, not from the date the legal decision was made, as is the current law.
The committee adopted an amendment by Senator Rob Bradley (R-Orange Park) and Sen. Bill Galvano (R-Bradenton), which eliminated language that would have allowed prejudgment interest to be charged for attorney fees and non-economic damages, such as pain and suffering. Despite the amendment’s efforts to more narrowly apply prejudgment interest, the Florida Chamber remains opposed to SB 334. Prejudgment interest will further drive up the cost of personal injury lawsuits against Floridians and force businesses into a “sue-and-settle” position. It also removes existing discretion available to judges and instead mandates prejudgment interest be awarded.
Thank Sen. Latvala
Click here to thank Sen. Jack Latvala, the only Senator to support Florida’s business community by voting AGAINST SB 334 at its most recent committee vote.
Why is “Prejudgment Interest Bad for Businesses?
Watch the video below, and then share it with other business leaders to warn them about the latest sue-and-settle scheme brewing in Tallahassee.
The Senate’s version of the bill, SB 334, will move to a vote on the Senate Floor. The House’s version of the bill, HB 469, has one more committee stop before potentially moving to a vote on the House Floor.