CHARLESTON, W.Va. (AP) - West Virginians will pay less in interest on court judgments starting next year under a new law signed by Gov. Jim Justice.
The measure, approved by the House and Senate, will set the rate at 2 percent above an annually set Federal Reserve rate, down from 3 percent.
It lowers the range of possible rates to a minimum of 4 percent and maximum of 9 percent - down from 7 and 11 percent.
The calculation is based on the Fifth Federal Reserve District secondary discount rate.
That rate in mid-March was set at 2 percent.
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