Z-0184.2  _______________________________________________

                          HOUSE BILL 1175

          _______________________________________________

State of Washington      54th Legislature     1995 Regular Session

By Representatives L. Thomas, Beeksma and Huff; by request of Department of General Administration

Read first time 01/16/95.  Referred to Committee on Financial Institutions & Insurance.

Revising the rate of interest on tort judgments against the state and political subdivisions.

    AN ACT Relating to interest on tort judgments; and amending RCW 4.56.115.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

    Sec. 1.  RCW 4.56.115 and 1983 c 147 s 2 are each amended to read as follows:

    Judgments founded on the tortious conduct of the state of Washington or of the political subdivisions, municipal corporations, and quasi municipal corporations of the state, whether acting in their governmental or proprietary capacities, shall bear interest from the date of entry at four percentage points above the ((maximum rate permitted under RCW 19.52.020 on)) equivalent coupon issue yield (as published by the board of governors of the federal reserve system) of the average bill rate for twenty-six week treasury bills as determined at the first bill market auction conducted during the calendar month immediately preceding the date of entry thereof((:  PROVIDED, That)).  In any case where a court is directed on review to enter judgment on a verdict or in any case where a judgment entered on a verdict is wholly or partly affirmed on review, interest on the judgment or on that portion of the judgment affirmed shall date back to and shall accrue from the date the verdict was rendered.

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