March 28, 2017 Leave a comment
TAKE ACTION ON SMALL BUSINESS ISSUES IN FLORIDA. Be the voice of small business and make your voice heard with your elected officials in the Florida legislature.
Tomorrow, the Florida Senate Rules Committee is set to vote on SB 334, related to prejudgment interest. The State Senator where your business is located sits on the Rules Committee and is expected to vote on this critical small business issue tomorrow.
SB 334 allows interest to be charged on damages, attorneys’ fees, and court costs from the date the injury or tort occurred, not from the date the damages were awarded. Delays in the legal system, which might not be due to the defendant, will only further drive up the cost of personal injury lawsuits against small businesses. This will cause more companies to be forced to settle to avoid increased legal costs as a result of additional interest. .
This legislation is bad for Florida’s businesses because the bill:
• Increases the cost of personal injury lawsuits, which is already a significant cost to small businesses, by charging interest before a legal decision has been rendered.
• Forces more companies to settle, despite the merit of the claim, to avoid paying interest for ongoing litigation.
Vote NO on Senate Bill 334.