55.03
Judgments; rate of interest, generally.
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55.03 Judgments; rate of interest, generally.—
(1) On December 1, March 1, June 1, and September 1 of each year, the Chief Financial Officer shall set the rate of interest that shall be payable on judgments or decrees for the calendar quarter beginning January 1 and adjust the rate quarterly on April 1, July 1, and October 1 by averaging the discount rate of the Federal Reserve Bank of New York for the preceding 12 months, then adding 400 basis points to the averaged federal discount rate. The Chief Financial Officer shall inform the clerk of the courts and chief judge for each judicial circuit of the rate that has been established for the upcoming quarter. The interest rate established by the Chief Financial Officer shall take effect on the first day of each following calendar quarter. Judgments obtained on or after January 1, 1995, shall use the previous statutory rate for time periods before January 1, 1995, for which interest is due and shall apply the rate set by the Chief Financial Officer for time periods after January 1, 1995, for which interest is due. Nothing contained herein shall affect a rate of interest established by written contract or obligation.
(2) Any judgment for money damages or order for a judicial sale and any process or writ directed to a sheriff for execution shall bear, on its face, the rate of interest that is payable on the judgment. The rate of interest stated in the judgment, as adjusted in subsection (3), accrues on the judgment until it is paid.
(3) The interest rate is established at the time a judgment is obtained and such interest rate shall be adjusted annually on January 1 of each year in accordance with the interest rate in effect on that date as set by the Chief Financial Officer until the judgment is paid, except for judgments entered by the clerk of the court pursuant to ss. 55.141, 61.14, 938.29, and 938.30, which shall not be adjusted annually.
(4) A sheriff shall not be required to docket and index or collect on any process, writ, judgment, or decree, described in subsection (2), and entered after the effective date of this act, unless such process, writ, judgment, or decree indicates the rate of interest. For purposes of this subsection, if the process, writ, judgment, or decree refers to the statutory rate of interest described in subsection (1), such reference shall be deemed to indicate the rate of interest.
History.—s. 1, ch. 1562, 1866; RS 1176; GS 1604; RGS 2806; CGL 4493; s. 1, ch. 16051, 1933; s. 9, ch. 67-254; s. 7, ch. 77-354; s. 8, ch. 79-396; ss. 1, 2, ch. 80-110; s. 1, ch. 81-113; s. 37, ch. 81-259; s. 8, ch. 94-239; s. 4, ch. 98-410; s. 101, ch. 2003-261; s. 1, ch. 2011-169.
Notes of Decisions
Cited in 214
cases (29 in the last 5 years), 1955–2026 · leading case: Lyantie Townsend, etc. v. R.J. Reynolds Tobacco Company
Lyantie Townsend, etc. v. R.J. Reynolds Tobacco Company (2016)
“§ 55.03, Fla. Stat. (1997). -6- chief judge for each judicial circuit of the rate that has been established for the upcoming year.”
R. J. Reynolds Tobacco Company v. Lyantie Townsend, as Personal etc. (2015)
“§ 55.03, Fla. Stat. (1995). In 1998, the Legislature again amended the statute.”
Amerace Corp. v. Stallings (2002)
“Thus, we find that, consistent with this Court's precedent, the trial court properly denied the plaintiffs' request for interest between the verdict date and the final judgment date.”
Whitehurst v. Camp (1997)
“Section 55.03, Florida Statutes (1995), addresses judgments and the applicable rates of interest.”
Genser v. Reef Condominium Ass'n (2012)
“The award of pre-judgment interest on attorney’s fees is thus a matter of court-made law, not the application of section 55.03, Florida Statutes, which applies to judgments.”
Regions Bank v. Maroone Chevrolet, L.L.C. (2013)
“(1994); § 55.03, Fla. Stat. (2003). Section 687.01 refers to section 55.”
Tracfone Wireless, Inc. v. Hernandez (2016)
“See Fla. Stat. § 55.03 . TracFone seeks this interest rate from January 1, 2014, to the present on the full amount of the monetary damages that it seeks.”
Adrian Fridman v. Safeco Insurance Company of Illinois (2016)
“00, that shall bear interest, pursuant to Florida Statute § 55.03 for which let execution issue, notwithstanding the excess jury verdict rendered in this matter.”
Allstate Floridian Insurance Co. v. Farmer (2012)
“Pursuant to Chapter 2011-169, § 1, at 2893, Laws of Florida, which amended section 55.03, Florida Statutes, the Chief Financial Officer sets the judgment interest rate quarterly.”
Whitehurst v. Camp (1996)
“10, Florida Statutes (1995), in setting post-judgment interest at 8 percent per annum, as determined pursuant to subsection 55.03(1), Florida Statutes (1995), rather than the 10 percent interest rate set forth in the agreement for deed, and in assessing less than the full amount…”
Progressive v. Florida Hospital (2018)
“2016) (noting that, after examining a staff analysis of the enacting law, “[a]lthough it is not necessary to delve into the legislative history of section 55.03(3), Florida Statutes (2010), because the language is clear and unambiguous, the legislative history nevertheless…”
Peavy v. Dyer (1992)
“The court also disapproved the portion of the 1989 amendment that awarded interest on the interest accruing after November 1987.”
— 55.03(1) — 37 cases
Whitehurst v. Camp (1997)
“Section 55.03, Florida Statutes (1995), addresses judgments and the applicable rates of interest.”
Whitehurst v. Camp (1996)
“10, Florida Statutes (1995), in setting post-judgment interest at 8 percent per annum, as determined pursuant to subsection 55.03(1), Florida Statutes (1995), rather than the 10 percent interest rate set forth in the agreement for deed, and in assessing less than the full amount…”
R. J. Reynolds Tobacco Company v. Lyantie Townsend, as Personal etc. (2015)
“§ 55.03, Fla. Stat. (1995). In 1998, the Legislature again amended the statute.”
Lyantie Townsend, etc. v. R.J. Reynolds Tobacco Company (2016)
“§ 55.03, Fla. Stat. (1997). -6- chief judge for each judicial circuit of the rate that has been established for the upcoming year.”
— 55.03(2) — 11 cases
Amerace Corp. v. Stallings (2002)
“Thus, we find that, consistent with this Court's precedent, the trial court properly denied the plaintiffs' request for interest between the verdict date and the final judgment date.”
Lyantie Townsend, etc. v. R.J. Reynolds Tobacco Company (2016)
“§ 55.03, Fla. Stat. (1997). -6- chief judge for each judicial circuit of the rate that has been established for the upcoming year.”
Rainess v. Estate of MacHida (2012)
Alexander v. Kalitan (2019)
— 55.03(3) — 17 cases
Lyantie Townsend, etc. v. R.J. Reynolds Tobacco Company (2016)
“§ 55.03, Fla. Stat. (1997). -6- chief judge for each judicial circuit of the rate that has been established for the upcoming year.”
R. J. Reynolds Tobacco Company v. Lyantie Townsend, as Personal etc. (2015)
“§ 55.03, Fla. Stat. (1995). In 1998, the Legislature again amended the statute.”
Genser v. Reef Condominium Ass'n (2012)
“The award of pre-judgment interest on attorney’s fees is thus a matter of court-made law, not the application of section 55.03, Florida Statutes, which applies to judgments.”
Progressive v. Florida Hospital (2018)
“2016) (noting that, after examining a staff analysis of the enacting law, “[a]lthough it is not necessary to delve into the legislative history of section 55.03(3), Florida Statutes (2010), because the language is clear and unambiguous, the legislative history nevertheless…”
Allstate Floridian Insurance Co. v. Farmer (2012)
“Pursuant to Chapter 2011-169, § 1, at 2893, Laws of Florida, which amended section 55.03, Florida Statutes, the Chief Financial Officer sets the judgment interest rate quarterly.”
— 55.03(3639) — 1 case
Rubin v. ESTATE OF RUBIN (1962)
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