Text: HSB00211 Text: HSB00213 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 6B.24, Code 2003, is amended to read as 1 2 follows: 1 3 6B.24 REDUCTION OF DAMAGES – INTEREST ON INCREASED AWARD. 1 4 If the amount of damages awarded by the commissioners is 1 5 decreased on appeal, the reduced amount shall be paid to the 1 6 landowner. If the amount of damages awarded by the 1 7 commissioners is increased on appeal, interest shall be paid 1 8 from the date of the condemnation. Interest shall not be paid 1 9 on any amount which was previously paid. Interest shall be 1 10 calculated at an annual rate equal to the five-year treasury 1 11 constant maturityindexpublished by the federal reserve in 1 12 the H15 Report settled immediately before the date of the 1 13 award. 1 14 Sec. 2. Section 668.13, subsection 3, Code 2003, is 1 15 amended to read as follows: 1 16 3. Interest shall be calculated as of the date of judgment 1 17 at a rate equal to the five-year treasury constant maturity 1 18indexpublished by the federal reserve in the H15 report 1 19 settled immediately prior to the date of the judgment plus two 1 20 percent. The state court administrator shall distribute 1 21 notice monthly of that rate and any changes to that rate to 1 22 all district courts. 1 23 EXPLANATION 1 24 This bill relates to the calculation of interest on damages 1 25 awarded by compensation commissions when private property is 1 26 condemned and interest on judgment and decrees on actions 1 27 brought based on liability in tort under Code chapter 668. 1 28 The bill provides that interest shall be calculated at an 1 29 annual rate equal to the five-year treasury constant maturity 1 30 published by the federal reserve in the H15 report settled 1 31 immediately before the date of the award for awards of damages 1 32 by compensation commissions when private property is 1 33 condemned. 1 34 The bill provides that interest shall be calculated at an 1 35 annual rate equal to the five-year treasury constant maturity 2 1 published by the federal reserve in the H15 report settled 2 2 immediately prior to the date of the judgment under Code 2 3 chapter 668, plus 2 percent. 2 4 LSB 2551HC 80 2 5 av/pj/5
Text: HSB00211 Text: HSB00213 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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