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 modifies the interest rates and how interest accumulates on unpaid water and sewer utility bills, delinquent municipal taxes, assessments, and other municipal liens. It directly affects residents and businesses that owe these unpaid amounts to their local government or utility provider. The key provision updates the rate structure and calculation method for interest on these specific debts. The bill amends relevant sections of New Jersey's statutory law to implement these changes.