Massachusetts S1029 amends prejudgment interest rates to be calculated based on the weekly average 1-year constant maturity treasury yield.

Massachusetts S1029 modifies the calculation of prejudgment interest rates by replacing the fixed twelve percent annual rate with a variable rate based on the weekly average 1-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 judgment. This change applies to both sections 6B and 6C of chapter 231 of the General Laws.

Massachusetts S1029 amends prejudgment interest rates to be calculated based on the weekly average 1-year constant maturity treasury yield.

Massachusetts S1029 modifies the calculation of prejudgment interest rates by replacing the fixed twelve percent annual rate with a variable rate based on the weekly average 1-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 judgment. This change applies to both sections 6B and 6C of chapter 231 of the General Laws.