COLUMBIA (WACH, AP) -- Gov. Nikki Haley signed legislation Tuesday that imposes limits on punitive damages that can be awarded in lawsuits in South Carolina.
Haley signed the tort reform bill at a ceremony at the State House Tuesday afternoon.
The bill caps punitive awards in the typical case at $500,000 or three times the actual damages, whichever is greater.
In more severe cases, awards now top out at $2 million or four times the actual damages including lost wages and hospital bills, if that amount is more.
This is the first time limits have been placed on punitive damages in the state.
Cam Crawford is the director of the pro-business South Carolina Civil Justice Coalition and says the limits will help make South Carolina more competitive.
Lawmakers gave the final approval to the bill in early June.
Haley originally wanted the cap lower at $350,000 or triple actual damages.
(The Associated Press contributed to this report.)
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