An Act concerning prejudgment interest on claims arising from certain State contracts and amending N.J.S.59:13-8.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. N.J.S.59:13-8 is amended to read as follows:
Interest on judgments.
59:13-8. Interest on judgments. No interest shall accrue prior to the entry of judgment in a court of competent jurisdiction, except that the court, in its discretion, may award prejudgment interest on the whole or part of a judgment arising out of or relating to claims for the construction or installation of improvements to real property in accordance with principles of equity.
2. This act shall take effect immediately and shall apply to any claim that accrues after the date of enactment
Approved August 8, 2001.