SB292
Revise caps on noneconomic, punitive, and exemplary damages
Current Status: In Senate Committee (Judiciary)
Summary
The bill amends various sections of the Ohio Revised Code to increase the dollar caps on noneconomic damages and punitive or exemplary damages in civil actions. It also establishes a procedure for the Department of Taxation to adjust these caps annually based on the consumer price index. The adjustments will be reported to the General Assembly each February.
Rationale
The bill increases government regulation of civil damages, which may conflict with the LP's principles of limiting government intervention and promoting individual rights. However, it does not directly oppose the LPO's focus on fair compensation and accountability in civil actions, leading to a mixed alignment score.
Risks and Concerns
- Potential for increased litigation costs
- Encouragement of frivolous lawsuits
- Government intervention in private contracts