By:  Hopson (Senate Sponsor - Averitt)                            H.B. No. 2415
	(In the Senate - Received from the House April 28, 2003; 
May 1, 2003, read first time and referred to Committee on 
Jurisprudence; May 14, 2003, reported adversely, with favorable 
Committee Substitute by the following vote:  Yeas 6, Nays 0; 
May 14, 2003, sent to printer.)


COMMITTEE SUBSTITUTE FOR H.B. No. 2415                                   By:  Averitt


A BILL TO BE ENTITLED

AN ACT


relating to the postjudgment interest rate.                                 
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 304.003(c), Finance Code, is amended to 
read as follows: 
	(c)  The postjudgment interest rate is the prime rate as 
published by the Federal Reserve Bank of New York on the date of 
computation[:
		(1)  the action rate quoted on a discount basis for 
52-week treasury bills issued by the United State government as 
most recently published by the Federal Reserve Board before the 
date of computation;
		(2)  10 percent a year if the auction rate described by 
Subdivision (1) is less than 10 percent; or
		(3)  20 percent a year if the auction rate described by 
Subdivision (1) is more than 20 percent].
	SECTION 2.  (a)  This Act applies only to a suit in which a 
judgment is signed or subject to appeal on or after the effective 
date of this Act.
	(b)  This Act takes effect immediately if it receives a vote 
of two-thirds of all the members elected to each house, as provided 
by Section 39, Article III, Texas Constitution.  If this Act does 
not receive the vote necessary for immediate effect, this Act takes 
effect September 1, 2003.



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