By Bivins                                              S.B. No. 776
         76R7285 DAK-F                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to interest on judgments in certain civil actions.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Section 304.003(c), Finance Code, is amended to
 1-5     read as follows:
 1-6           (c)  The judgment interest rate is[:]
 1-7                 [(1)]  the auction rate quoted on a discount basis for
 1-8     52-week treasury bills issued by the United States government as
 1-9     most recently published by the Federal Reserve Board before the
1-10     date of the computation[;]
1-11                 [(2)  10 percent if the auction rate described by
1-12     Subdivision (1) is less than 10 percent; or]
1-13                 [(3)  20 percent if the auction rate described by
1-14     Subdivision (1) is more than 20 percent].
1-15           SECTION 2.  Subchapter B, Chapter 304, Finance Code, is
1-16     amended by adding Section 304.109 to read as follows:
1-17           Sec. 304.109.  PREJUDGMENT INTEREST ON FUTURE DAMAGES
1-18     PROHIBITED.  A court may not award prejudgment interest on future
1-19     damages.
1-20           SECTION 3.  This Act applies only to a suit commenced on or
1-21     after the effective date of this Act.  A suit commenced before the
1-22     effective date of this Act is governed by the law applicable to the
1-23     suit immediately before the effective date of this Act, and that
1-24     law is continued in effect for that purpose.
 2-1           SECTION 4.  To the extent of any conflict, this Act prevails
 2-2     over another Act of the 76th Legislature, Regular Session, 1999,
 2-3     relating to nonsubstantive additions and corrections in enacted
 2-4     codes.
 2-5           SECTION 5.  The importance of this legislation and the
 2-6     crowded condition of the calendars in both houses create an
 2-7     emergency and an imperative public necessity that the
 2-8     constitutional rule requiring bills to be read on three several
 2-9     days in each house be suspended, and this rule is hereby suspended,
2-10     and that this Act take effect and be in force from and after its
2-11     passage, and it is so enacted.