SRC-JLB S.B. 1156 78(R)   BILL ANALYSIS


Senate Research Center   S.B. 1156
By: Averitt
Jurisprudence
3/24/2003
As Filed


DIGEST AND PURPOSE 

Currently, courts may award a postjudgment interest based on the
calculation of a 52-week United States treasury bill rate as a protection
to the prevailing party.  However, the United States Treasury has
eliminated the 52-week treasury bill.  As proposed, S.B. 1156 replaces the
52-week United States treasury bill rate with the weekly average one-year
constant maturity treasury yield for purposes of computing the
postjudgment interest rate. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to
a state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 304.003 (c), Finance Code, to provide a certain
postjudgment interest rate. 

SECTION 2.  Effective date:  September 1, 2003.