Interest Table 01/04/2010 The following table provides information on the interest charged by each of the 50 states and its territories: INTEREST FOR THE UNITED STATES AND TERRITORIES STATE INTEREST Alabama 12% per annum. Alaska 6% per annum effective 10/1/96, charged at the end the month the support was due and not paid. Prior to 10/1/96, 12% per annum. Arizona 10% simple interest per annum. Arkansas State law provides for 10% per annum. Interest should be reduced to a judgment by a court or a sum certain indicated by the other state. California 10% per annum; accrues from date installment or from date of entry of judgment. Colorado Interest may be calculated for child support arrearages. The following interest percentages can be calculated: prior to June 30, 1975, 6% simple interest; July 1, 1975, through June 30, 1979, 8% simple interest; July 1, 1979 through June 30, 1986, 8% compounded interest; and July 1, 1986, through the present 12 percent compounded interest. Connecticut None. Delaware None. District of Columbia None. Florida Rates determined by state’s comptroller. Georgia 12% per year before 12/31/06; 7% per year after 1/01/07. Guam 6% per annum effective 1/1/08; prior to 1/1/08, 12% per annum. Hawaii None. Idaho No. Illinois 9% per annum, but IV-D Agency does not provide for collection. ERICSA 1 Interest Table 01/04/2010 STATE INTEREST Indiana 8% per annum if arrearage amount determined in court entry, but court has discretion, upon request, to order up to 1.5% interest per month. Iowa Laws allow for 10% but not commonly collected or enforced. Kansas No, but Kansas law does provide for the assessment and collection of judgment interest, however, the Kansas IV-D program does not calculate or enforce judgment interest. Kentucky Louisiana 12%, but only if reduced to judgment. None. Maine Although the State of Maine does not charge interest it is authorized by statute. 19-A MRSA §2354 states that Commissioner (DHHS) may collect interest of 6% per annum on any support due or owing to the Department. 14 MRSA §1602-C authorizes Treasury Bill plus 6% post-judgment interest. Maryland None. 10% simple interest on money judgments. Only applied in limited number of cases by direction of the court. Massachusetts 12% annually. Depending upon payments received, in accordance with Massachusetts' regulations, obligors might not be assessed interest or might be eligible to apply for a waiver under certain circumstances. M.G.L. c.119A, s6(a) 830 CMR s119A.6.1. Michigan After 1/1/2010, discretionary surcharge to be imposed by the Court only for willful failure to pay child support. The surcharge shall be calculated at 6-month intervals at an annual rate of interest equal to 1% plus the average interest rate paid at auctions of 5-year United States treasury notes during the 6 months immediately preceding July 1 and January 1, as certified by the state treasurer. Prior to 1/1/2010, surcharge was mandatory; see MCL 552.603a for historical timeline breakdown of past rates. Minnesota Non-child support judgments rates are set by Legislature. For child support the interest rate is the current judgment rate, plus 2%. ERICSA 2 Interest Table 01/04/2010 STATE INTEREST Mississippi Charged depending on order. If payment is missed, usually 8% when ordered by the Court. Missouri 1% per month simple interest once reduced to lump sum judgment. Obligee must complete and file computation with circuit clerk to make interest collectible. Montana No. Nebraska Child support is considered a judgment. The interest rate on judgments is fixed at a rate equivalent yield of the average accepted auction price for the last auction of one-year Treasury bills, and takes effect two weeks after the publication of the auction price by the Secretary of the Treasury, pursuant to Neb. Rev. Stat. §45-103. Nevada When there is no express contract in writing fixing a different rate of interest, interest must be allowed at a rate equal to the prime rate at the largest bank in Nevada, as ascertained by the Commissioner of Financial Institutions, on January 1 or July 1, as the case may be, immediately preceding the date of the transaction, plus 2 percent, upon all money from the time it becomes due. New Hampshire None. New Jersey The Child Support Program in NJ does not charge interest. However, under court rule and case law, when a child support obligor seeks a warrant of satisfaction, or full arrears will be satisfied as a result of the child support lien law, or the Probation Division of the Superior Court locates and executes on assets of the obligor in an amount that satisfies the total arrearage, the collection of post-judgment interest must be addressed. The amount of post-judgment interest shall be calculated in accordance with the approved interest rates for judgments in effect during the periods in which the judgment was open. Such post-judgment interest rates are set on an annual basis pursuant to Court Rule 4:42-11 and are promulgated by the Administrative Director of the Courts by notices to the bar. Effective 1/1/10, the annual interest rate is 1.5%. ERICSA 3 Interest Table 01/04/2010 STATE INTEREST New Mexico New York Yes; Currently 4% effective 5/19/04. Prior to then, 8.75% from 6/18/93-5/18/04, and 15% from 6/17/83- 6/17/93. 9% if reduced to a money judgment. North Carolina None. North Dakota For calendar year 2010 rate is 6.50%. Interest rate is equal to the prime rate as published in the Wall Street Journal on the first Monday in December of each year plus three percentage points and rounded up to the next one-half percentage point. Interest may not be compounded. The IV-D program will calculate interest on arrears that accrued after July 1, 2002. For arrears that accrued on or before July 1, 2002, the IV-D program will calculate interest effective January 1, 2004. Otherwise, interest will only be added to the IV-D program's records if a court has ordered the interest amount to be calculated by some other individual or entity and has approved the calculated amount. For purposes of interest, arrears must be due in a month prior to the current month. Ohio (Although the Ohio Revised Code contains the following language, the addition of interest to a child support order is extremely rare.) The court shall assess interest on the amount of support an obligor failed to pay if the court determines the failure to be willful and the arrears accrued after July 15, 1992. Oklahoma Interest accrues at the statutory rate of 10% per year. Oregon 9% only if party requests and provides an accounting that includes a calculation of interest. Periodic updates must be provided for case to reflect ongoing interest accrual. Pennsylvania None. Puerto Rico None. Rhode Island 12% per annum. South Carolina None. South Dakota Discretionary with the courts on whether to grant interest or not. 1% per month if awarded. However, South Dakota DCS does not compute or collect interest. . ERICSA 4 Interest Table 01/04/2010 STATE INTEREST Tennessee None. Texas 6% simple interest per year from the date support is delinquent (31st day after payment due date). Utah Federal post-judgment rate plus 2% on adjudicated arrears only. The rate changes each January. Vermont As a matter of policy, OCS is not currently charging interest in TANF cases. In Non-TANF cases, a surcharge of 12% per annum (simple, not compounded) is charged only on amounts reduced to judgments. Virgin Islands No. Virginia Statutory rate of 6% on amount unpaid after 30 days since 7/1/04. 9% from 7/30/91-6/30/04. Washington No. West Virginia 5% per annum simple interest effective 7/1/08. Prior to 7/1/08, 10% per annum simple interest. Wisconsin 1% per month on all arrearages greater than one month’s worth of support. Wyoming May be 10% penalty on current missed obligation payments. 10% may be charged on amount reduced to judgment. ERICSA 5