Bill Text: CT HB05518 | 2015 | General Assembly | Introduced

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Bill Title: An Act Concerning Interest Rates On Delinquent Payments Due To A Municipality.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-01-16 - Referred to Joint Committee on Planning and Development [HB05518 Detail]

Download: Connecticut-2015-HB05518-Introduced.html

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General Assembly		Proposed Bill No. 5518
January Session, 2015		LCO No. 634
		*00634*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
REP. D'AMELIO, 71st Dist.

AN ACT CONCERNING INTEREST RATES ON DELINQUENT PAYMENTS DUE TO A MUNICIPALITY.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to require that interest rates on delinquent payments due to a municipality (1) coincide with the federal prime interest rate, and (2) not exceed the federal prime interest rate by more than five per cent.

Statement of Purpose:

To keep interest rates in line with the fluctuating economy.