By:  Averitt                                                      S.B. No. 1450
	(In the Senate - Filed March 10, 2005; March 21, 2005, read 
first time and referred to Committee on Jurisprudence; 
April 28, 2005, reported favorably by the following vote:  Yeas 4, 
Nays 0; April 28, 2005, sent to printer.)


A BILL TO BE ENTITLED

AN ACT


relating to judgment interest.                                              
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subsection (c), Section 304.003, Finance Code, 
is amended to read as follows:
	(c)  The postjudgment interest rate is:                                        
		(1)  the prime rate as published by the Board of 
Governors of the Federal Reserve System [Bank of New York] on the 
date of computation;
		(2)  five percent a year if the prime rate as published 
by the Board of Governors of the Federal Reserve System [Bank of New 
York] described by Subdivision (1) is less than five percent; or
		(3)  15 percent a year if the prime rate as published by 
the Board of Governors of the Federal Reserve System [Bank of New 
York] described by Subdivision (1) is more than 15 percent.
	SECTION 2.  This Act takes effect September 1, 2005.                           



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