Texas SB629 modifies interest accrual rates on overdue child support payments.

Texas SB629 amends the Family Code to change the interest rates on overdue child support payments. Interest on delinquent child support exceeding the monthly obligation will accrue at a rate of three percent simple interest per year until the support is paid. For child support arrearages confirmed and reduced to a money judgment, interest will accrue at the same rate from the date the order is rendered until the judgment is paid. The bill also repeals certain sections of the Family Code related to interest on child support.

Texas SB629 modifies interest accrual rates on overdue child support payments.

Texas SB629 amends the Family Code to change the interest rates on overdue child support payments. Interest on delinquent child support exceeding the monthly obligation will accrue at a rate of three percent simple interest per year until the support is paid. For child support arrearages confirmed and reduced to a money judgment, interest will accrue at the same rate from the date the order is rendered until the judgment is paid. The bill also repeals certain sections of the Family Code related to interest on child support.