Current through P.A. 146 of the 2020 Legislative Session
Section 600.6306 - Entering order of judgment; order; judgment amounts; "gross present cash value" defined; reduced judgment amount(1) After a verdict is rendered by a trier of fact in favor of a plaintiff in a personal injury action other than an action for medical malpractice, an order of judgment shall be entered by the court. Subject to section 2959, the order of judgment shall be entered against each defendant, including a third-party defendant, in the following order and in the following judgment amounts: (a) All past economic damages, less collateral source payments as provided for in section 6303.(b) All past noneconomic damages.(c) All future economic damages, less medical and other health care costs and less collateral source payments determined to be collectible under section 6303(5), reduced to gross present cash value.(d) All future medical and other health care costs reduced to gross present cash value.(e) All future noneconomic damages reduced to gross present cash value.(f) All taxable and allowable costs, including interest as permitted by section 6013 or 6455 on the judgment amounts.(2) As used in this section, "gross present cash value" means the total amount of future damages reduced to present value at a rate of 5% per year, compounded annually, for each year in which those damages will accrue, as found by the trier of fact under section 6305(1)(b).(3) If the plaintiff was assigned a percentage of fault under section 6304, the total judgment amount shall be reduced, subject to section 2959, by an amount equal to the percentage of plaintiff's fault. When reducing the judgment amount as provided in this subsection, the court shall determine the ratio of total past damages to total future damages and shall allocate the amounts to be deducted proportionally between the past and future damages.Amended by 2012, Act 608,s 3, eff. 3/28/2013.Add. 1986, Act 178, Eff. Oct. 1, 1986 ;--Am. 1995, Act 161, Eff. Mar. 28, 1996 . .