S0536

	2015 -- S 0536
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	LC000068
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2015
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	A N A C T
	RELATING TO PUBLIC UTILITIES - REGULATORY POWERS OF ADMINISTRATION

	Introduced By: Senators McCaffrey, Conley, Nesselbush, and Lombardi
	Date Introduced: March 03, 2015
	Referred To: Senate Commerce
	It is enacted by the General Assembly as follows:
1	SECTION 1. Chapter 39-3 of the General Laws entitled "Regulatory Powers of
2	Administration" is hereby amended by adding thereto the following section:
3	39-3-45. Payment of interest on accounts. -- Every electric or gas distribution company
4	that requires a security deposit or escrow account from a commercial or industrial customer shall
5	hold the deposit in a separate interest bearing account for the benefit of the customer, at a rate of
6	interest set by the commission. The interest accrued on the account shall either be paid to the
7	customer at the time the deposit is returned (upon termination of the account or otherwise) or, at
8	the customer's request, applied annually to the account as a credit.
9	SECTION 2. This act shall take effect upon passage.
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	LC000068
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	EXPLANATION
	BY THE LEGISLATIVE COUNCIL
	OF
	A N A C T
	RELATING TO PUBLIC UTILITIES - REGULATORY POWERS OF ADMINISTRATION
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1	This act would require electric and gas companies that require security deposit or escrow
2	accounts from commercial or industrial customers to deposit such funds in a separate interest
3	bearing account for the benefit of the customer.
4	This act would take effect upon passage.
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	LC000068
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	LC000068 - Page 2 of 1