Bill Text: WV HB3152 | 2021 | Regular Session | Introduced
Bill Title: Exempt interest payments on deposits held less than 18 months
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-03-15 - To House Judiciary [HB3152 Detail]
Download: West_Virginia-2021-HB3152-Introduced.html
WEST virginia legislature
2021 regular session
Introduced
House Bill 3152
By Delegate Riley
[Introduced March 15, 2021; Referred to the Committee on the Judiciary]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article, designated §24-2I-1, relating to exempting interest payments by public utilities on deposits that are held for less than 18 months.
Be it enacted by the Legislature of West Virginia:
ARTICLE 2I. NO INTEREST PAYABLE ON SECURITY DEPOSITS HELD UP TO EIGHTEEN MONTHS.
§24-2I-1. Public utilities not required to pay interest on security deposits held for up to 18 months.
Public utilities may collect and hold a security deposit in accordance with rules established by the Commission. No interest shall be payable on such security deposits when a deposit is, no later than 30 days following the 18th month of service date either (1) applied to the customer’s account or (2) otherwise returned to the customer.
NOTE: The purpose of this bill is to exempt interest payments by public utilities on deposits that are held for less than 18 months.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
