New Jersey A800 modifies interest rates on unpaid water and sewer bills and delinquent municipal taxes and liens.
New Jersey A800 amends various sections of the laws concerning municipally owned sewer and water utilities to change the interest rates on unpaid water and sewer bills and delinquent municipal taxes and liens. The bill stipulates that the interest rate permitted to accrue on unpaid service charges will be equal to the prevailing municipal bond yield, assessed for each month or fraction thereof, compounded annually at the end of each year.
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