On the recordFebruary 16, 2000
I am sorry that I cannot accept his amendment because his amendment would undermine and gut the entire purpose of the underlying bill. I just want to take a moment if I may to correct the record and I think the gentleman may have misspoken. In my remarks, I talked about the liability aspects of the Y2K bill which currently now are law and how we attempted to track that in our bill. I believe the gentleman said that it did not track it. I invite the gentleman's attention to section 5, subsection B, subsection 1, captioned Punitive Damages Limitation from the Y2K bill. It says that a Y2K action may not exceed the lesser of three times the amount awarded for compensatory damages or $250,000. Mr. Chairman, that is the standard that is now a part of the underlying bill, and so it does track the Y2K litigation reform that has passed both houses of Congress and the President signed last year.
Source
govinfo.gov
