Texas Utilities Code

§ 16.003 — LATE PAYMENT PENALTY

UT § 16.003Title 2. PUBLIC UTILITY REGULATORY ACT · Part A. PROVISIONS APPLICABLE TO ALL UTILITIES · Ch. 16. COMMISSION FINANCING · Art. A. ASSESSMENT ON PUBLIC UTILITIES

Statute text

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(a)An additional fee equal to 10 percent of the amount due shall be assessed for any late payment of an assessment required under this subchapter.

(b)An assessment delinquent for more than 30 days accrues interest at an annual rate of 12 percent on the amount of the assessment and penalty due.

Legislative history

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.