AIF Statement Regarding Prejudgment Interest Legislation

February 23, 2017

Tallahassee, Fla. – The Associated Industries of Florida (AIF) today released the following statement on behalf of its President & CEO Tom Feeney regarding the opposition to House Bill 469, by Representative Shawn Harrison (R-Tampa), relating to Prejudgment Interest.  HB 469 was today heard in the House Civil Justice & Claims Subcommittee, its first committee of reference.

“Currently, Florida courts award postjudgment interest, which encourages prompt damage payments to the prevailing party.  This is good public policy.

“HB 469, which seeks to allow for prejudgment interest, is not in the best interest of Florida.  Prejudgment interest is not appropriate for certain cases, such as personal injury cases, because the amount of damages is a guesstimate until a jury can determine the amount of damages owed.

“AIF would like to thank Representatives Jay Fant, Colleen Burton, George Moraitis and Frank White for voting against HB 469 today.  This bill will now go to the House Appropriations Committee.  Our state has come so far in improving our civil justice system; we cannot afford to regress now.  We urge our state leaders to take a deep dive into this issue and see that this legislation only hurts Florida employers and causes further strain on our state’s court system.”

Known as “The Voice of Florida Business” in the Sunshine State, AIF has represented the principles of prosperity and free enterprise before the three branches of state government since 1920. A voluntary association of diversified businesses, AIF was created to foster an economic climate in Florida conducive to the growth, development, and welfare of industry and business and the people of the state.

For more information on AIF, please visit AIF.com and follow @VoiceofFLBiz.

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