The unclaimed utility deposits program (program) helps finance electric and gas utility bill payment assistance for income-qualified households. The program is partially funded by electric and gas utilities' contributions of money that are owed to utility ratepayers but that have remained unclaimed by the ratepayers for more than 2 years. The act clarifies that a municipally owned electric or gas utility may elect to participate in the program or develop a similar mechanism for utilizing unclaimed utility deposits for utility bill payment assistance.
(Note: This summary applies to this bill as enacted.)