FISCAL NOTE TO

ASSEMBLY, No. 813

STATE OF NEW JERSEY

DATED: JULY 22, 1996

      Assembly Bill No. 813 of 1996 would establish the "Tort Victim Compensation Fund". This separate, nonlapsing fund would be administered by the Administrative Office of The Courts. Under the bill, every person who recovers punitive damages in a personal injury action would be required to deposit ten percent of the punitive damage portion of the award in the fund. The moneys deposited in the fund would be used to satisfy the claims of any person who has received a personal injury award but has been unable to collect the award despite exhausting all means of collecting the award.

      The Administrative Office of the Courts (AOC) states that it does not keep data on punitive damage awards but expects that the amount of the moneys deposited into this fund would not be great and none of the funding would be made available to the State or local governments. The AOC also states that it should be able to administer the fund without the need for additional personnel resources.

      The Office of Legislative Services concurs.

This fiscal note has been prepared pursuant to P.L.1980, c.67.