51-12-13. Reduction of expenses, wages, and other damages to present value.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
In determining the present value of future medical expenses, living expenses, lost wages, or other economic damages, the trier of fact may reduce the same to the present value based on a discount rate of 5 percent or any other discount rate as the trier of fact may deem appropriate.#
(b)
This Code section shall not be construed to provide for the introduction of evidence showing the cost of any specific private investment product, including, but not limited to, an annuity.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Ga. L. 1970, p. 168, § 2; Ga. L. 2013, p. 759, § 1/HB 94.

Law reviews

For article distinguishing loss of capacity to work with loss of earning capacity, see 23 Ga. B. J. 213 (1960). For article discussing the use of mortality tables in determining the value of life earnings of the deceased in wrongful death actions, with emphasis on the Carlisle table, see 9 Ga. St. B. J. 293 (1973). For article, ‘‘Problems in Calculating and Awarding Compensatory Damages for Wrongful Death Under the Federal Tort Claims Act,’’ see 36 Emory L.J. 149 (1987). For article, ‘‘Damage Calibra-tions Under the Federal Tort Claims Act,’’ see 25 Ga. St. B. J. 100 (1988). For article, ‘‘The Discount Rate in Georgia Personal Injury and Wrongful Death Damage Calculations,’’ see 13 Ga. St. U.L. Rev. 431 (1997). For article, ‘‘Calculating Economic Damages in Georgia Personal Injury and Wrongful Death Cases,’’ see 22 Ga. St. Bar. J. 18 (Feb. 2017).

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t51-(v39)-2017-pdf.pdf, Volume V39, 2017 edition, page 972; merge action: carried; file SHA-256 bc30a40687b2.

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