S.B. No. 1450




AN ACT

relating to judgment interest.                                                
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subsection (c), Section 304.003, Finance Code, 
is amended to read as follows:
	(c)  The postjudgment interest rate is:                                        
		(1)  the prime rate as published by the Board of 
Governors of the Federal Reserve System [Bank of New York] on the 
date of computation;
		(2)  five percent a year if the prime rate as published 
by the Board of Governors of the Federal Reserve System [Bank of New 
York] described by Subdivision (1) is less than five percent; or
		(3)  15 percent a year if the prime rate as published by 
the Board of Governors of the Federal Reserve System [Bank of New 
York] described by Subdivision (1) is more than 15 percent.
	SECTION 2.  This Act takes effect September 1, 2005.                           

                                                                              




______________________________    ______________________________
President of the Senate             Speaker of the House
	I hereby certify that S.B. No. 1450 passed the Senate on 
May 5, 2005, by the following vote:  Yeas 29, Nays 0.




______________________________ 
   Secretary of the Senate             
	I hereby certify that S.B. No. 1450 passed the House on 
May 25, 2005, by a non-record vote.




______________________________ 
   Chief Clerk of the House            



Approved:


______________________________ 
            Date



______________________________ 
          Governor