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 Senate
- Passed General Assembly
- 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. Specifically, it adjusts the interest rate to be equal to the prevailing municipal bond yield, compounded annually. The bill also addresses the lien status of unpaid charges and provides a mechanism for discontinuing water service in cases of non-payment. Finally, it includes provisions related to municipal authorities and utility systems.
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