News Release

May 12, 2009

 

Contact: David K. Boyd, State Court Administrator, (515) 281-5241

 

 

NOTICE OF TREASURY CONSTANT MATURITY INDEX FOR

CALCULATION OF INTEREST ON CERTAIN JUDGMENTS

 

Des Moines, May 12, 2009 -- This certification of the most recent treasury constant maturity index published by the federal reserve in the H15 Report is distributed to the courts in conformance with Iowa Code Section 668.13(3)(2001), as amended by House File 356, 2001 Acts.   The average yield during the most recent month for securities included in the treasury constant maturity index was .55 percent. This notice will be updated and distributed monthly. 

 

There are four general categories of actions and applicable interest rates. The following is intended to serve only as a guide. For the interest rate applicable in a specific case, parties should check the Appropriate section of the Code.

 

I.          ACTIONS FILED AFTER JULY 1, 1997.

 

The treasury constant maturity index rate plus two percent shall be the rate of interest on actions filed after July 1, 1997 (including actions filed pursuant to Iowa Code Chapter 668). 1997 Iowa Acts H.F. 693 Sections 2, 14, 16 (amending Iowa Code Sections 535.3 and 668.13(3)). Exceptions remain for workers' compensation, child and spousal support, and medical payments. 1997 Iowa Acts. H.F. 693, Sections 2, 4.

 

CHAPTER 668 ACTIONS FILED ON OR AFTER SEPTEMBER 15, 1987 AND BEFORE JULY 1, 1997.

 

Pursuant to Section 668.13(3) and 1997 Iowa Acts H.F. 693, the treasury constant maturity index rate applies to actions brought pursuant to Chapter 668 and:

 

1. Accruing on or after July 1, 1987, and filed before July 1, 1997; and

 

2. Accruing before July 1, 1987, and filed on or after September 15, 1987,

    but before July 1, 1997.

 

III.        CHAPTER 668 ACTIONS FILED BEFORE SEPTEMBER 15, 1987.

 

A ten percent rate of interest shall apply to Chapter 668 actions filed before September 15, 1987. 1987 Iowa Acts. Ch. 157, Sections 8, 11; Iowa Code Section 535.3 (l987).

 

IV.       ACTIONS (OTHER THAN CHAPTER 668 ACTIONS) FILED BEFORE JULY 1, 1997.

 

For actions other than Chapter 668 actions filed before July 1, 1997, interest shall be allowed on all money due on judgments and decrees at the rate of ten percent per year.   Iowa Code Section 535.3 (1997).

 

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2009

Iowa Supreme Court

1111 East Court Avenue

Des Moines, IA 50319

 

515-281-3952