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September 2011 Special Session
2011 - 2012 LEGISLATURE
SENATE SUBSTITUTE AMENDMENT 1,
TO SENATE BILL 14
October 28, 2011 - Offered by Senator Zipperer.
SB14-SSA1,1,2 1An Act to amend 807.01 (4), 814.04 (4) and 815.05 (8) of the statutes; relating
2to:
interest rates on judgments in civil actions.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB14-SSA1, s. 1 3Section 1. 807.01 (4) of the statutes is amended to read:
SB14-SSA1,1,114 807.01 (4) If there is an offer of settlement by a party under this section which
5is not accepted and the party recovers a judgment which is greater than or equal to
6the amount specified in the offer of settlement, the party is entitled to interest at the
7an annual rate of 12% equal to 1 percent plus the prime rate in effect on the day the
8judgment is entered, as reported by the federal reserve board in federal reserve
9statistical release H. 15,
on the amount recovered from the date of the offer of
10settlement until the amount is paid. Interest under this section is in lieu of interest
11computed under ss. 814.04 (4) and 815.05 (8).
SB14-SSA1, s. 2
1Section 2. 814.04 (4) of the statutes is amended to read:
SB14-SSA1,2,72 814.04 (4) Interest on verdict. Except as provided in s. 807.01 (4), if the
3judgment is for the recovery of money, interest at the an annual rate of 12% per year
4equal to 1 percent plus the prime rate in effect on the day the judgment is entered,
5as reported by the federal reserve board in federal reserve statistical release H. 15,
6on the amount of the money judgment
from the time of verdict, decision, or report
7until judgment is entered shall be computed by the clerk and added to the costs.
SB14-SSA1, s. 3 8Section 3. 815.05 (8) of the statutes is amended to read:
SB14-SSA1,2,149 815.05 (8) Except as provided in s. 807.01 (4), every execution upon a judgment
10for the recovery of money shall direct the collection of interest at the an annual rate
11of 12% per year equal to 1 percent plus the prime rate in effect on the day the
12judgment is entered, as reported by the federal reserve board in federal reserve
13statistical release H. 15,
on the amount recovered from the date of the entry of the
14judgment until it is paid.
SB14-SSA1, s. 4 15Section 4. Initial applicability.
SB14-SSA1,2,1716 (1) This act first applies to an execution on a judgment entered on the effective
17date of this subsection.
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