SENATORS Spada, Austria, Nein

To amend sections 1343.03, 2325.18, and 5703.47 and

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to enact sections 319.19, 1901.313, 1907.202,

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2303.25, and 2323.57 of the Revised Code to change

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the rate of interest on money due under certain

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contracts and on judgments, to provide trial

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courts notification of the rate of interest, to

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specify that the rate of interest is that in

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effect on the date of the judgment in a civil

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action and remains in effect until the judgment is

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satisfied, to change the computation of the period

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for which prejudgment interest is due in certain

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civil actions, to preclude prejudgment interest on

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future damages, to require that the finder of fact

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in certain tort actions in which future damages

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are claimed specify the amount of past and future

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damages awarded, to modify the period of

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limitations for revivor of judgments, and to

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preclude the accrual of interest from the date a

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judgment becomes dormant to the date the judgment

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is revived.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That sections 1343.03, 2325.18, and 5703.47 be	21
amended and sections 319.19, 1901.313, 1907.202, 2303.25, and	22
2323.57 of the Revised Code be enacted to read as follows:	23

Sec. 319.19.  Within ten days after receiving the	24
notification from the tax commissioner under section 5703.47 of	25
the Revised Code of the interest rate per annum determined under	26
that section, the auditor shall notify in writing the clerk of the	27
court of common pleas and the clerk of each municipal court and	28
county court in the county of that interest rate.	29

Sec. 1343.03.  (A) In cases other than those provided for in	30
sections 1343.01 and 1343.02 of the Revised Code, when money	31
becomes due and payable upon any bond, bill, note, or other	32
instrument of writing, upon any book account, upon any settlement	33
between parties, upon all verbal contracts entered into, and upon	34
all judgments, decrees, and orders of any judicial tribunal for	35
the payment of money arising out of tortious conduct or a contract	36
or other transaction, the creditor is entitled to interest at the	37
rate of ten per cent per annum, and no moredetermined pursuant to	38
section 5703.47 of the Revised Code, unless a written contract	39
provides a different rate of interest in relation to the money	40
that becomes due and payable, in which case the creditor is	41
entitled to interest at the rate provided in that contract.	42
Notification of the interest rate per annum shall be provided	43
pursuant to sections 319.19, 1901.313, 1907.202, 2303.25, and	44
5703.47 of the Revised Code.	45

(B) Except as provided in divisions (C) and (D) of this	46
section and subject to section 2325.18 of the Revised Code,	47
interest on a judgment, decree, or order for the payment of money	48
rendered in a civil action based on tortious conduct or a contract	49
or other transaction, including, but not limited to a civil action	50
based on tortious conduct or a contract or other transaction that	51
has been settled by agreement of the parties, shall be computed	52
from the date the judgment, decree, or order is rendered to the	53
date on which the money is paid and shall be at the rate	54
determined pursuant to section 5703.47 of the Revised Code that is	55
in effect on the date the judgment, decree, or order is rendered.	56
That rate shall remain in effect until the judgment, decree, or	57
order is satisfied.	58

(C) Interest on a judgment, decree, or order for the payment	59
of money rendered in a civil action based on tortious conduct and	60
not settled by agreement of the parties, shall be computed from	61
the date the cause of action accrued to the date on which the	62
money is paid if(1) If, upon motion of any party to thea civil	63
action that is based on tortious conduct, that has not been	64
settled by agreement of the parties, and in which the court has	65
rendered a judgment, decree, or order for the payment of money,	66
the court determines at a hearing held subsequent to the verdict	67
or decision in the action that the party required to pay the money	68
failed to make a good faith effort to settle the case and that the	69
party to whom the money is to be paid did not fail to make a good	70
faith effort to settle the case, interest on the judgment, decree,	71
or order shall be computed as follows:	72

(a) In an action in which the party required to pay the money	73
has admitted liability in a pleading, from the date the cause of	74
action accrued to the date on which the order, judgment, or decree	75
was rendered;	76

(b) In an action in which the party required to pay the money	77
engaged in the conduct resulting in liability with the deliberate	78
purpose of causing harm to the party to whom the money is to be	79
paid, from the date the cause of action accrued to the date on	80
which the order, judgment, or decree was rendered;	81

(c) In all other actions, for the longer of the following	82
periods:	83

(i) From the date on which the party to whom the money is to	84
be paid gave the first notice described in division (C)(1)(c)(i)	85
of this section to the date on which the judgment, order, or	86
decree was rendered. The period described in division (C)(1)(c)(i)	87
of this section shall apply only if the party to whom the money is	88
to be paid made a reasonable attempt to determine if the party	89
required to pay had insurance coverage for liability for the	90
tortious conduct and gave to the party required to pay and to any	91
identified insurer, as nearly simultaneously as practicable,	92
written notice in person or by certified mail that the cause of	93
action had accrued.	94

(ii) From the date on which the party to whom the money is to	95
be paid filed the pleading on which the judgment, decree, or order	96
was based to the date on which the judgment, decree, or order was	97
rendered.	98

(2) No court shall award interest under division (C)(1) of	99
this section on future damages, as defined in section 2323.56 of	100
the Revised Code, that are found by the trier of fact.	101

(D) DivisionsDivision (B) of this section does not apply to	102
a judgment, decree, or order rendered in a civil action based on	103
tortious conduct or a contract or other transaction, and division	104
(C) of this section dodoes not apply to a judgment, decree, or	105
order rendered in a civil action based on tortious conduct, if a	106
different period for computing interest on it is specified by law,	107
or if it is rendered in an action against the state in the court	108
of claims, or in an action under Chapter 4123. of the Revised	109
Code.	110

Sec. 1901.313.  Upon receiving the notification of the	111
interest rate per annum from the county auditor pursuant to	112
section 319.19 of the Revised Code, the clerk of a municipal court	113
shall post or cause to be posted notice of that interest rate per	114
annum in a conspicuous and public location in or near the office	115
of the clerk of the court in the courthouse or building in which	116
the municipal court is located.	117

Sec. 1907.202.  Upon receiving the notification of the	118
interest rate per annum from the county auditor pursuant to	119
section 319.19 of the Revised Code, the clerk of a county court	120
shall post or cause to be posted notice of that interest rate per	121
annum in a conspicuous and public location in or near the office	122
of the clerk of the court in the courthouse or building in which	123
the county court is located.	124

Sec. 2303.25.  Upon receiving the notification of the	125
interest rate per annum from the county auditor pursuant to	126
section 319.19 of the Revised Code, the clerk of the court of	127
common pleas shall post or cause to be posted notice of that	128
interest rate per annum in a conspicuous and public location in or	129
near the office of the clerk of the court in the courthouse or	130
building in which the court of common pleas is located.	131

Sec. 2323.57. In any tort action to which section 2323.55 or	132
2323.56 of the Revised Code does not apply, if a plaintiff makes a	133
good faith claim against a defendant for future damages, the trier	134
of fact shall return a general verdict and, if that verdict is in	135
favor of the plaintiff, answers to interrogatories or findings of	136
fact that specify both of the following:	137

(A) The past damages recoverable by that plaintiff;

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(B) The future damages recoverable by that plaintiff.

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Sec. 2325.18. (A) An action to revive a judgment can only be	140
brought within twenty-oneten years from the time it became	141
dormant, unless the party entitled to bring suchthat action, at	142
the time the judgment became dormant, was within the age of	143
minority, of unsound mind, or imprisoned, in which cases the	144
action may be brought within fifteenten years after suchthe	145
disability is removed.	146

(B) For the purpose of calculating interest due on a revived	147
judgment, interest shall not accrue and shall not be computed from	148
the date the judgment became dormant to the date the judgment is	149
revived.	150

Sec. 5703.47.  (A) As used in this section, "federal	151
short-term rate" means the rate of the average market yield on	152
outstanding marketable obligations of the United States with	153
remaining periods to maturity of three years or less, as	154
determined under section 1274 of the "Internal Revenue Code of	155
1986," 100 Stat. 2085, 26 U.S.C.A. 1274, for July of the current	156
year.	157

(B) On the fifteenth day of October of each year, the tax	158
commissioner shall determine the federal short-term rate. For	159
purposes of any section of the Revised Code requiring interest to	160
be computed at the rate per annum required by this section, the	161
rate determined by the commissioner under this section, rounded to	162
the nearest whole number per cent, plus three per cent shall be	163
the interest rate per annum used in making the computation for	164
interest that accrues during the following calendar year.	165

(C) Within ten days after the interest rate per annum is	166
determined under this section, the tax commissioner shall notify	167
the auditor of each county in writing of that rate of interest.	168

Section 2. That existing sections 1343.03, 2325.18, and	169
5703.47 of the Revised Code are hereby repealed.	170

Section 3. The interest rate provided for in division (A) of	171
section 1343.03 of the Revised Code, as amended by this act,	172
applies to actions pending on the effective date of this act. In	173
the calculation of interest due under section 1343.03 of the	174
Revised Code, in actions pending on the effective date of this	175
act, the interest rate provided for in section 1343.03 of the	176
Revised Code prior to the amendment of that section by this act	177
shall apply up to the effective date of this act, and the interest	178
rate provided for in section 1343.03 of the Revised Code as	179
amended by this act shall apply on and after that effective date.	180