SB 1086-Relating to Prejudgment Interest
On Wednesday, January 20th, SB 1086, relating to Prejudgment Interest by Senator Rob Bradley (R-Orange Park) was heard in the Senate Judiciary Committee and passed with 9 yeas and 1 nay after much debate and the adoption of two significant amendments.
The bill would apply pre-judgment interest to any negligence action where they plaintiff is entitled to recover economic/monetary damages. The two amendments adopted excluded attorney’s fees from the interest application and removed provisions from the bill which applied its measures retroactively. AIF General Counsel, Tammy Perdue, testified in opposition to the bill since it will drive the cost of litigation and force defendants to pay greater damage amounts due to delays that their actions did not cause or that could be deliberately incurred by the plaintiff simply to drive up the interest award. AIF was pleased that several senators today noted concerns with the bill and anticipate additional improvements prior to it reaching the full Senate floor.
SB 1086 will head to its second committee stop in the Senate Appropriations Subcommittee on Criminal and Civil Justice.
AIF opposes legislation that will increase the already daunting costs of litigation on Florida’s businesses.
SB 196- Relating to Public Records/State –Funded Infrastructure Bank
On Wednesday, January 20th, SB 196, relating to Public Records/State-funded Infrastructure Bank, by Senator Travis Hutson (R-Palm Coast) was heard today in the Senate Rules Committee , this bills last committee stop, and reportedly favorably with a vote of 11 yeas to 2 nays. AIF stood in support of this bill.
Currently, the state-funded infrastructure bank (SIB) is housed within Department of Transportation (department). The SIB provides loans and credit enhancements to public and private entities for constructing and improving transportation facilities. This bill creates a public record exemption for the financial statements or other financial information that is required for the application to the SIB.
However, the public records exemption does not apply to the financial records of an applicant who is in default of an SIB loan.
This exemption is subject to the Open Government Sunset Review Act and will be repealed on October 2, 2021 unless this bill is reenacted by the Legislature.
SB 196 will now go to the Senate floor for consideration.
AIF supports protecting the financial information of private companies.
