Martin Introduces Tort Reform Legislation In Senate
Bill seeks to create a more business-friendly climate in South Carolina
Audio Clip: Senator Martin on his tort reform bill
Columbia, SC – January 29, 2009 – South Carolina Senate Republicans, led by Sen. Larry Martin (R-Pickens), are once again taking action to address the growing concern of escalating business costs brought on by legal suits. To help foster a climate for businesses to better thrive and create jobs, Senator Martin authored legislation that will give much-needed protection from escalating payouts from lawsuits.
Senator Martin noted “If South Carolina is going to be competitive with our neighboring states in keeping and attracting jobs and investment, it is important that we take a common sense approach to our civil justice rules. That’s what this tort reform bill is designed to do….to bring about a greater sense of equity to the tort system and to encourage investment in South Carolina.”
Among other things, the 2009 Tort Reform Package includes provisions to:
• Limit punitive damages awarded to $250,000 for small businesses
• Limit non-economic damages to $350,000 per entity
• Cap the cost of appellant surety bonds for all businesses
• Close an often-abused loophole in the Statute of Repose limitations.
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