Int 0053-1998

Be it enacted by the Council as follows: Section 1. Chapter three of title eleven of the administrative code of the city of New York is hereby amended by adding thereto a new section 11-313.1 to read as follows: �11-313.1. Interest on overpayment of water and sewer rents. a. Definitions: When used in this section, the following terms shall mean: 1. "Overpayment." Any payment by a ratepayer of water and sewer rents in excess of the amount properly due and owing that results from the issuance of an erroneous bill. 2. "Erroneous bill." Any bill issued to a ratepayer that requests payment of water and sewer rents in excess of the amount properly due and owing, provided, however, that the term "erroneous bill" shall not include a bill where the excess payment sought is the result of an act or omission for which the ratepayer is wholly or partially responsible, including, but not limited to, leaks in pipes that the ratepayer has the legal responsibility to maintain or the failure of the ratepayer to provide access to the ratepayer's property, when necessary, for the purpose of reading a water meter. 3. "Ratepayer." The person whose name appears on the record of water and sewer rents as being the owner, occupant or agent of a premises. b. Interest on an overpayment shall be paid at the time of the refund of the overpayment, provided, however, that no interest on the overpayment shall be made where the refund is made within thirty days of the overpayment. Interest shall be paid from the date the overpayment was made until the date when a refund of the overpayment is made. c. The rate of interest on any overpayment shall be the rate of interest established for nonpayment of water and sewer rents pursuant to subdivision c of section 11-312 and subdivision e of section 11-313 of this chapter, respectively, or, if no such rate is established, the interest rate shall be six per centum per annum greater than the prevailing interest rates charged for commercial loans extended to prime borrowers by commercial banks operating in the city. �2. This local law shall take effect immediately. 1 2