HB1794
To Amend The Rate At Which Interest For Child Support That Is Due And Unpaid Accrues.
Last Action (May 1, 2023): Died in the House at Sine Die Adjournment
Sponsors
AI-Generated Summary
House Bill 1794 amends Arkansas Code § 9-14-233(a) regarding the interest rate applied to unpaid child support. The bill reduces the statutory interest rate for child support arrearages from ten percent (10%) per annum to two percent (2%) per annum. The legislation maintains the existing provision that allows the owner of the judgment or their counsel to request that no interest accrue on the unpaid child support. This change effectively lowers the financial penalty imposed on individuals who fail to make timely child support payments.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill are non-custodial parents who owe past-due child support, as the reduction in the interest rate will decrease the total financial burden of their accrued debt over time.
Who Might Suffer?
The primary group negatively impacted by this bill is custodial parents and children who are owed child support, as the reduction in interest rates may result in a lower total payout on the judgment compared to the previous ten percent rate.
Get Notified
Receive an email when this bill's status changes.