AB 14

Under current law, interest accrues on a judgment involving the recovery of

money at the rate of 12 percent per year from the date of entry of judgment until the

judgment is paid. Also under current law, if an offer of settlement is made and

rejected, the party making the offer of settlement prevails, and the judgment is

greater than or equal to the offer of settlement, interest accrues on the amount

recovered at the rate of 12 percent from the date of the offer of settlement until the

amount is paid.

This bill changes the interest rate on judgments for the recovery of money in

civil actions in tort, in actions brought by a customer to enforce rights under

Wisconsin's Consumer Act, and in consumer protection actions commenced by the

Department of Agriculture, Trade and Consumer Protection (DATCP) to an annual

rate of 1 percent plus the prime rate in effect on the day the judgment is entered, as

reported by the Federal Reserve Board, until the amount is paid. This bill also

changes the interest rate on amounts recovered by a party who prevails in a civil

action in tort or, if the party is a customer, in an action brought to enforce rights under

the Wisconsin Consumer Act, or in a consumer protection action commenced by

DATCP, after that party made an offer of settlement that was rejected, to an annual

rate of 1 percent plus the prime rate, as reported by the Federal Reserve Board, in

effect on the day the judgment is entered from the date of the offer of settlement until

the amount is paid.