National Billing Date Changes
Beginning with the 2011 Filing year (2012 crop year), the billing date for commodities with a 08/31 Filing date (see below) changed to 08/15 in all counties where coverage is available.
In addition to the billing date change, a related statement (statement code 01182) has been added to all states and counties. Statement 01182 reads, "In lieu of Section 24(a) of the Basic Provisions, interest will begin to attach on unpaid premium on the first of the month following the first billing date provided that a minimum of 30 days have passed from the first billing date." For the affected commodities, the billing date is now August 15th. The first day of the month following the billing date is September 1, however this date is not a "minimum of 30 days" past the billing date. Therefore, according to the added statement, interest on unpaid premium will not begin to accrue until October 1.
Click here to view the list of affected commodities and the affected states and counties. (This Adobe .pdf file requires Adobe Reader. Click here to download it free of charge from Adobe.com.)