Updated: Friday, 08 Mar 2013, 11:45 AM EST
Published : Friday, 08 Mar 2013, 3:03 AM EST
HARTFORD, Conn. (AP) — Connecticut lawmakers are considering a bill that would allow cities and towns to charge delinquent taxpayers a lower interest rate.
The winter storm postponed a scheduled vote Friday by the Planning and Development Committee on the legislation, which allows municipalities to charge an interest rate of 12 percent instead of 18 percent.
The bill also would require the interest be charged per day instead of per month.
Stamford real estate attorney Paul Nakian has urged lawmakers to lower the rate, calling it unconscionable. He represents a local family that faces a tax foreclosure, owing the city of Stamford $42,000.
Municipal leaders are strongly opposing the bill.
The Connecticut Conference of Municipalities said cities and towns will be pressured politically to lower the delinquent interest rate, losing $14.5 million in revenue.