Prompt Payment Interest Rate; Contract Disputes Act, 38888 [2012-16040]

Download as PDF 38888 Federal Register / Vol. 77, No. 126 / Friday, June 29, 2012 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES products into the United States from Puerto Rico and the Virgin Islands. These recordkeeping requirements are for the verification of claims for drawback of distilled spirits excise tax paid on nonbeverage products. Current Actions: We are submitting this information collection for extension purposes only. The information collection, estimated number of respondents, and estimated total annual burden hours remain unchanged. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit. Estimated Number of Respondents: 20. Estimated Total Annual Burden Hours: 160. Title: Certificate of Taxpaid Alcohol. OMB Control Number: 1513–0131. TTB Form Number: 5100.4. Abstract: This form is required by a Port Director of Customs and Border Patrol (Customs) to support refunding taxes paid on nonbeverage products that are exported. When the nonbeverage product is exported, the industry member submits TTB F 5100.4 and supporting documentation to TTB. TTB certifies the form and then submits it to Customs. Current Actions: We are submitting this information collection for extension purposes only. The information collection, estimated number of respondents, and estimated total annual burden hours remain unchanged. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit. Estimated Number of Respondents: 10. Estimated Total Annual Burden Hours: 1,000. VerDate Mar<15>2010 16:52 Jun 28, 2012 Jkt 226001 Dated: June 26, 2012. Amy Greenberg, Assistant Director, Regulations and Rulings Division. [FR Doc. 2012–16008 Filed 6–28–12; 8:45 am] BILLING CODE 4810–31–P DEPARTMENT OF THE TREASURY Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury. ACTION: Notice. SUMMARY: For the period beginning July 1, 2012, and ending on December 31, 2012, the prompt payment interest rate is 13⁄4 per centum per annum. ADDRESSES: Comments or inquiries may be mailed to Dorothy Dicks, Reporting Team Leader, Federal Borrowings Branch, Division of Accounting Operations, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106–1328. A copy of this Notice is available at http://www.treasurydirect.gov. DATES: Effective July 1, 2012, to December 31, 2012. FOR FURTHER INFORMATION CONTACT: Brant McDaniel, Manager, Federal Borrowings Branch, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106– 1328, (304) 480–5114; Dorothy Dicks, Reporting Team Leader, Federal Borrowings Branch, Division of Accounting Operations, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106– 1328, (304) 480–5115; Paul Wolfteich, Chief Counsel, Office of the Chief Counsel, Bureau of the Public Debt, (202) 504–3705; or Brenda L. Hoffman, Attorney-Advisor, Office of the Chief PO 00000 Frm 00124 Fmt 4703 Sfmt 9990 Counsel, Bureau of the Public Debt, (202) 504–3706. SUPPLEMENTARY INFORMATION: An agency that has acquired property or service from a business concern and has failed to pay for the complete delivery of property or service by the required payment date shall pay the business concern an interest penalty. 31 U.S.C. 3902(a). The Contract Disputes Act of 1978, Sec. 12, Public Law 95–563, 92 Stat. 2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the calculation of interest due on claims at the rate established by the Secretary of the Treasury. The Secretary of the Treasury has the authority to specify the rate by which the interest shall be computed for interest payments under section 12 of the Contract Disputes Act of 1978 and under the Prompt Payment Act. Under the Prompt Payment Act, if an interest penalty is owed to a business concern, the penalty shall be paid regardless of whether the business concern requested payment of such penalty. 31 U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated with the interest rate, which is in effect at the time the agency accrues the obligation to pay a late payment interest penalty. 31 U.S.C. 3902(a). ‘‘The interest penalty shall be paid for the period beginning on the day after the required payment date and ending on the date on which payment is made.’’ 31 U.S.C. 3902(b). Therefore, notice is given that the Secretary of the Treasury has determined that the rate of interest applicable for the period beginning July 1, 2012, and ending on December 31, 2012, is 13⁄4 per centum per annum. Richard L. Gregg, Fiscal Assistant Secretary. [FR Doc. 2012–16040 Filed 6–28–12; 8:45 am] BILLING CODE 4810–39–P E:\FR\FM\29JNN1.SGM 29JNN1

Agencies

[Federal Register Volume 77, Number 126 (Friday, June 29, 2012)]
[Notices]
[Page 38888]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-16040]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.

ACTION: Notice.

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SUMMARY: For the period beginning July 1, 2012, and ending on December 
31, 2012, the prompt payment interest rate is 1\3/4\ per centum per 
annum.

ADDRESSES: Comments or inquiries may be mailed to Dorothy Dicks, 
Reporting Team Leader, Federal Borrowings Branch, Division of 
Accounting Operations, Office of Public Debt Accounting, Bureau of the 
Public Debt, Parkersburg, West Virginia 26106-1328. A copy of this 
Notice is available at http://www.treasurydirect.gov.

DATES: Effective July 1, 2012, to December 31, 2012.

FOR FURTHER INFORMATION CONTACT: Brant McDaniel, Manager, Federal 
Borrowings Branch, Office of Public Debt Accounting, Bureau of the 
Public Debt, Parkersburg, West Virginia 26106-1328, (304) 480-5114; 
Dorothy Dicks, Reporting Team Leader, Federal Borrowings Branch, 
Division of Accounting Operations, Office of Public Debt Accounting, 
Bureau of the Public Debt, Parkersburg, West Virginia 26106-1328, (304) 
480-5115; Paul Wolfteich, Chief Counsel, Office of the Chief Counsel, 
Bureau of the Public Debt, (202) 504-3705; or Brenda L. Hoffman, 
Attorney-Advisor, Office of the Chief Counsel, Bureau of the Public 
Debt, (202) 504-3706.

SUPPLEMENTARY INFORMATION: An agency that has acquired property or 
service from a business concern and has failed to pay for the complete 
delivery of property or service by the required payment date shall pay 
the business concern an interest penalty. 31 U.S.C. 3902(a). The 
Contract Disputes Act of 1978, Sec. 12, Public Law 95-563, 92 Stat. 
2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the 
calculation of interest due on claims at the rate established by the 
Secretary of the Treasury.
    The Secretary of the Treasury has the authority to specify the rate 
by which the interest shall be computed for interest payments under 
section 12 of the Contract Disputes Act of 1978 and under the Prompt 
Payment Act. Under the Prompt Payment Act, if an interest penalty is 
owed to a business concern, the penalty shall be paid regardless of 
whether the business concern requested payment of such penalty. 31 
U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated 
with the interest rate, which is in effect at the time the agency 
accrues the obligation to pay a late payment interest penalty. 31 
U.S.C. 3902(a). ``The interest penalty shall be paid for the period 
beginning on the day after the required payment date and ending on the 
date on which payment is made.'' 31 U.S.C. 3902(b).
    Therefore, notice is given that the Secretary of the Treasury has 
determined that the rate of interest applicable for the period 
beginning July 1, 2012, and ending on December 31, 2012, is 1\3/4\ per 
centum per annum.

Richard L. Gregg,
Fiscal Assistant Secretary.
[FR Doc. 2012-16040 Filed 6-28-12; 8:45 am]
BILLING CODE 4810-39-P