Modifies interest rates and accrual of interest on certain unpaid water and sewer utility bills and delinquent municipal taxes, assessments, and other municipal liens and charges.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill modifies interest rates and accrual of interest on unpaid water and sewer utility bills and delinquent municipal taxes, assessments, and other municipal liens and charges. It primarily adjusts the interest rate applied to these unpaid debts, linking it to the prevailing municipal bond yield. The bill also addresses lien priority and provides a mechanism for addressing delinquent payments, including the potential for service interruption. It clarifies definitions related to municipal authorities and utility systems.
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1 on record
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