HOUSE BILL ANALYSIS

                  HB 2367

Title:  An act relating to interest on judgments.

Brief Description:  Changing provisions relating to interest on judgments.

Sponsors:  Representatives Carlson, Radcliff and Sullivan.

HOUSE COMMITTEE ON LAW & JUSTICE

Staff:  Elizabeth Chambers (786-7291); Trudes Hutcheson (786-7384).

Background:  Current law requires that interest be paid on financial judgments in criminal cases from the date of the judgment.  Interest rates on criminal judgments are the same as those applicable to civil judgments.  In civil judgments, this rate is the general usury limit (the greater of 12 percent, or four percentage points above the 26-week treasury bill average rate as of the first auction of the previous month).

All nonrestitution interest retained by the court is divided evenly for deposit in the following four funds:  the public safety and education account; the judicial information system; the county current expense fund; and, the county current expense fund to fund local courts.

Summary of Bill:  The interest on financial judgements in criminal cases may not exceed 6 percent a year.

Fiscal Note:  Requested January 22, 1998.

Effective Date:  The bill takes effect July 1, 1998.

                 Office of Program Research