MI Comp L § 600.6306 (2021)
2021 Michigan Compiled Laws|Chapter 600 - Revised Judicature Act of 1961|Act 236 of 1961 - Revised Judicature Act of 1961 (600.101 - 600.9948)|236-1961-63 - Chapter 63 (600.6301...600.6312)|Section 600.6306 - Entering Order of Judgment; Order; Judgment Amounts; "Gross Present Cash Value" Defined; Reduced Judgment Amount.

600.6306 Entering order of judgment; order; judgment amounts; "gross present cash value" defined; reduced judgment amount.Sec. 6306.  (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. History: Add. 1986, Act 178, Eff. Oct. 1, 1986 ;-- Am. 1995, Act 161, Eff. Mar. 28, 1996 ;-- Am. 2012, Act 608, Eff. Mar. 28, 2013 Compiler's Notes: Section 3 of Act 178 of 1986 provides:“(1) Sections 2925b, 5805, 5838, and 5851 of Act No. 236 of the Public Acts of 1961, as amended by this amendatory act, shall not apply to causes of action arising before October 1, 1986.“(2) Sections 1483, 5838a, and 6304 of Act No. 236 of the Public Acts of 1961, as added by this amendatory act, shall apply to causes of action arising on or after October 1, 1986.“(3) Sections 1629, 1653, 2169, 2591, 2912c, 2912d, 2912e, 6098, 6301, 6303, 6305, 6306, 6307, 6309, and 6311 of Act No. 236 of the Public Acts of 1961, as added by this amendatory act, shall apply to cases filed on or after October 1, 1986.“(4) Sections 1651 and 6013 of Act No. 236 of the Public Acts of 1961, as amended by this amendatory act, shall not apply to cases filed before October 1, 1986.“(5) Chapter 49 of Act No. 236 of the Public Acts of 1961, as added by this amendatory act, shall apply to cases filed on or after January 1, 1987.“(6) Chapter 49a of Act No. 236 of the Public Acts of 1961, as added by this amendatory act, shall apply to cases filed in judicial circuits which are comprised of more than 1 county on or after July 1, 1990 and shall apply to cases filed in judicial circuits which are comprised of 1 county on or after October 1, 1988.”Enacting section 1 of Act 608 of 2012 provides:"Enacting section 1. Sections 1483, 2959, 6306, and 6307 of the revised judicature act of 1961, 1961 PA 236, MCL 600.1483, 600.2959, 600.6306, and 600.6307, as amended by this amendatory act and section 6306a of the revised judicature act of 1961, 1961 PA 236, MCL 600.6306a, as added by this amendatory act apply only to actions in which the cause of action arose on or after the effective date of this amendatory act."