Bill Text: WV HB3231 | 2022 | Regular Session | Enrolled
Bill Title: Public Utilities not required to pay interest on security deposits
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2022-04-19 - Chapter 253, Acts, Regular Session, 2022 [HB3231 Detail]
Download: West_Virginia-2022-HB3231-Enrolled.html
WEST virginia legislature
2022 regular session
ENROLLED
Committee Substitute
for
House Bill 3231
By Delegates Conley and Riley
[Passed March 11, 2022; in effect ninety days from passage.]
AN ACT to amend and reenact §24-3-8 of the Code of West Virginia, 1931, as amended, relating to public utility security deposits and interest thereon; prohibiting the charging of interest on security deposits held for up to eighteen months; and updating reference to prior law.
Be it enacted by the Legislature of West Virginia:
ARTICLE 3. DUTIES AND PRIVILEGES OF PUBLIC UTILITIES SUBJECT TO REGULATIONS OF COMMISSION.
§24-3-8. Deposits; interest.
(a) No public utility shall require any deposit of any residential customer which shall exceed one twelfth of the estimated annual charge to the customer for such service: Provided, That the provisions of this section shall not apply to deposits received prior to March 12, 1983.
(b) Public utilities may collect and hold a security deposit in accordance with this statute and the rules established by the commission. No interest shall be payable on security deposits when a deposit is, no later than 30 days following the date of the end of the eighteenth month of service, either (1) applied as a credit to the customer’s account, or (2) returned or refunded to the customer by some other means.
The Joint Committee on Enrolled Bills hereby certifies that the foregoing bill is correctly enrolled.
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Chairman, House Committee
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Chairman, Senate Committee
Originating in the House.
In effect ninety days from passage.
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Clerk of the House of Delegates
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Clerk of the Senate
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Speaker of the House of Delegates
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President of the Senate
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The within ................................................... this the...........................................
day of ..........................................................................................................., 2022.
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Governor
