2012 -- S 2944

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

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A N A C T

RELATING TO COURTS AND CIVIL PROCEDURE--PROCEDURE GENERALLY --

INTEREST ON REAL ESTATE VALUATION APPEALS

     Introduced By: Senator P Fogarty

     Date Introduced: May 03, 2012

     Referred To: Senate Judiciary

It is enacted by the General Assembly as follows:

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     SECTION 1. Section 9-21-10 of the General Laws in Chapter 9-21 entitled "Judgments,

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Orders, and Decrees" is hereby amended to read as follows:

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     9-21-10. Interest in civil actions. -- (a) In any civil action in which a verdict is rendered

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or a decision made for pecuniary damages, there shall be added by the clerk of the court to the

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amount of damages interest at the rate of twelve percent (12%) per annum thereon from the date

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the cause of action accrued, which shall be included in the judgment entered therein. Post-

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judgment interest shall be calculated at the rate of twelve percent (12%) per annum and accrue on

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both the principal amount of the judgment and the prejudgment interest entered therein. This

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section shall not apply until entry of judgment or to any contractual obligation where interest is

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already provided.

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      (b) Subsection (a) shall not apply in any action filed on or after January 1, 1987, for

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personal injury or wrongful death filed against a licensed physician, hospital, clinic, health

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maintenance organization, professional service corporation providing health care services, dentist,

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or dental hygienist based on professional negligence. In all such medical malpractice actions in

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which a verdict is rendered or a decision made for pecuniary damages, there shall be added by the

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clerk of the court to the amount of damages interest at the rate of twelve percent (12%) per annum

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thereon from the date of written notice of the claim by the claimant or his or her representative to

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the malpractice liability insurer, or to the medical or dental health care provider or the filing of

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the civil action, whichever first occurs.

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     (c) Subsection (a) shall not apply to any claim for pecuniary damages brought pursuant to

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the applicable provision of title 44, chapter 5. In those matters when a verdict is rendered or a

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decision made for pecuniary damages, there shall be added by the clerk of the court to the amount

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of damages, interest at the rate of six percent (6%) per annum thereon from the date the cause of

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action accrued, which shall be included in the judgment entered therein. Post judgment interest

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shall be calculated at the rate of six percent (6%) per annum and accrue on both the principal

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amount of the judgment and the prejudgment interest entered therein. This subsection shall not

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apply until the entry of judgment.

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     SECTION 2. This act shall take effect upon passage and shall apply to currently filed real

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estate tax valuation challenges.

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LC02507

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO COURTS AND CIVIL PROCEDURE--PROCEDURE GENERALLY --

INTEREST ON REAL ESTATE VALUATION APPEALS

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     This act would reduce the statutory interest added to pecuniary damages awarded in real

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estate valuation challenges for purposes of local real estate taxes, from twelve percent (12%) per

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annum to six percent (6%) per annum.

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     This act would take effect upon passage and would apply to currently filed real estate tax

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valuation challenges.

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LC02507

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