Modifies interest rates and accrual of interest on certain unpaid water and sewer utility bills and delinquent municipal taxes, assessments, and other municipal liens and charges.

This bill changes how interest is calculated on unpaid water and sewer utility bills, municipal taxes, assessments, and other municipal charges in New Jersey. It replaces fixed interest rates (which have remained unchanged since 1979-1982) with rates based on the prevailing municipal bond yield, which fluctuates with current market conditions. The bill requires at least 30 days to pass after a payment is due before interest begins to accrue. It affects property owners who owe these payments as well as the municipalities and utility authorities that collect them. The change aims to align interest rates with current market conditions rather than using outdated fixed rates.