A bill filed today could increase the cost of doing business in Florida for companies who are sued by trial lawyers just looking for another quick payday.
Prejudgment interest is the interest accrued as part of a lawsuit from the date of the claim to the time the final judgement is given.
HB 469, filed by Shawn Harrison (R-Tampa) and SB 334, filed by Senator Greg Steube (R-Sarasota), would make it so that interest would be accrued not following the date of judgment but upon the time the injury began. This is especially problematic if delays in court were to occur, all the while collecting interest, and could force companies into settling more court cases to avoid paying additional interest.
Florida already has a bottom-10 legal climate, and bills like prejudgment interest, the trial lawyers’ top priority for the 2017 legislative session, will only increase the costs of Florida’s litigious legal climate and force job creators into a worsening cycle of “sue and settle”.
The Florida Chamber will keep you informed about the progress of this bill. Contact us today to learn how you can get involved by emailing me at cjohnson@flchamber.com.
What Can You Do?
These bills are currently both waiting to be assigned to their committees of reference. But you can help be part of the solution today by joining the discussion at the Florida Chamber’s 2017 Capitol Days, held March 21 to 23 in Tallahassee.