Modifies and lowers some caps on punitive damages, based upon the net worth of a defendant. $20 million for a defendant with a net worth of more than $1 billion; $15 million for a defendant with a net worth of more than $750 million but not more than $1 billion $5 million for a defendant with a net worth of more than $500 million but not more than $750 million (new law); $3.75 million for a defendant with a net worth of more than $100 million but not more than $500 million (new law); $2.5 million for defendants with a net worth of more than $50 million but not more than $100 million (new law); Two percent of the defendant’s net worth for a defendant with a net worth of $50 million or less (new law).
