On November 16, Governor Walker signed Special Session Senate Bill 14 into law. The new law changes Wisconsin’s pre- and post-judgment interest from 12 percent – the highest in the nation – to the Federal Reserve prime rate plus one percent. The final bill included amendments that apply the interest on judgments to all cases – not just tort law-, and set the rate twice a year (January 1 and July 1).
This bill was part of Governor Walker’s “Back to Work Wisconsin” Special Session. Two other bills from that special session are now on the Governor’s desk including the Trespasser Liability Act (SB 22) and Reasonable Attorneys Fees (SB 12).
This post was authored by Hamilton Consulting Group’s intern, Lane Oling, a 2L at the University of Wisconsin Law School.