Medical Liability and Judgment Interest Rate Reforms Signed Into Law By Kentucky Governor
Harold Kim, Executive Vice President of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement today on passage of S.B. 4 addressing medical liability, and H.B. 233 addressing post-judgment interest rate reform. Both bills were signed by Gov. Matt Bevin on March 16th and will become law on June 14th:
“Kentucky has taken an important step toward improving its lawsuit environment with these two bills addressing medical liability and post-judgment interest reforms.
"S.B. 4, the Medical Review Panels bill, eliminates meritless lawsuits by creating a review panel to ensure that only legitimate claims advance through the justice system.
“H.B. 233 will bring Kentucky’s post-judgment interest rate—currently one of the highest in the nation—into a reasonable range and on par with other states. The current rate of 12 percent is excessive and inflates the cost of already expensive legislation.
“We commend Sen. Ralph Alvarado and Rep. Joe Fischer for their commitment to legal reform and applaud Gov. Bevin for signing these bills into law."
ILR seeks to promote civil justice reform through legislative, political, judicial, and educational activities at the global, national, state, and local levels.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.