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.