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.
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.