Plain English Breakdown
The official status indicates the bill passed both chambers and reached final enrollment, but no specific effective date is listed in the provided text.
HB 316: Adjusting Damage Limits for Inflation
This bill updates the maximum money a court can award in personal injury or wrongful death cases by adjusting current limits based on inflation since 1997.
What This Bill Does
- Adjusts damage limits using the Consumer Price Index for all urban consumers in urban Alaska, compiled by the U.S. Bureau of Labor Statistics.
- Updates the standard limit from $400,000 or life expectancy times $8,000 to an inflation-adjusted amount based on changes since 1997.
- Updates the higher limit for severe permanent physical impairment or disfigurement from $1,000,000 or life expectancy times $25,000 to an inflation-adjusted amount.
Who It Names or Affects
- People filing lawsuits for personal injury in Alaska courts.
- Families filing wrongful death claims.
- Courts and juries deciding damage awards that include loss of consortium claims arising from a single injury or death.
Terms To Know
- Damages
- Money awarded by a court for harm caused by an injury or death, including losses like companionship support (loss of consortium).
- Consumer Price Index (CPI)
- A measure used to track price changes over time; this bill uses the CPI for urban Alaska since 1997.
Limits and Unknowns
- The law only applies to damages awarded on or after its effective date.
- The exact new dollar amounts are not listed in the text because they depend on future inflation data calculations.
- While the bill passed both chambers, an official effective date is not provided in this document.