Current through September 2, 2024
Section 31.21.01.106 - INTEREST ON DEPOSITS01.Interest Payable. Interest will be payable on all deposited amounts at the rate provided by Subsection 106.02 of this rule. Interest will accrue from the date the deposit or deposit installment is made until the deposit is refunded or applied to the customer's utility bill; however, interest will not accrue on a deposit or deposit installment if:a. Service is terminated temporarily at the request of a customer who leaves the deposit with the utility for future use as a deposit; orb. Service has been permanently terminated and the utility has been unsuccessful in its attempt to refund a deposit.02.Interest Rate. On or before November 15 of each year, the Commission will determine the twelve month average interest rate for one-year Treasury Bills for the previous November 1 through October 31, round that rate to the nearest whole percent, and notify the utilities of its determination of this interest rate. That rate will be in effect for the following calendar year for all deposits described in Rule Subsection 106.01 of this rule.Idaho Admin. Code r. 31.21.01.106