Prompt Payment Interest Rate; Contract Disputes Act, 81880 [2015-32957]

Download as PDF 81880 Federal Register / Vol. 80, No. 251 / Thursday, December 31, 2015 / Notices would assume the status and obligations of a common carrier to provide service upon a reasonable demand. According to RSRL, the parties are finalizing, and will shortly execute, an agreement providing for NSR’s donation of the approximately 2.42-mile line to RRSL. RSRL certifies that the proposed transaction would not involve a provision or agreement that would limit RSRL’s ability to interchange with a third-party connecting carrier. RSRL states that it will connect and interchange with NSR in the vicinity of milepost 6.92. RSRL also certifies that its projected annual revenues as a result of this transaction will not result in RSRL becoming a Class I or Class II rail carrier and states that its projected annual revenues will not exceed $5 million. The transaction is expected to be consummated on or after January 17, 2016, the effective date of the exemption (30 days after the verified notice was filed). If the verified notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke will not automatically stay the effectiveness of the exemption. Petitions to stay must be filed no later than January 8, 2016 (at least seven days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to Docket No. FD 35976, must be filed with the Surface Transportation Board, 395 E Street SW., Washington, DC 20423–0001. In addition, a copy of each pleading must be served on Robert A. Wimbish, Fletcher & Sippel LLC, 29 South Wacker Drive, Suite 920, Chicago, IL 60606. Board decisions and notices are available on our Web site at WWW.STB.DOT.GOV. Decided: December 23, 2015. By the Board, Julia M. Farr, Acting Director, Office of Proceedings. Raina S. Contee, Clearance Clerk. [FR Doc. 2015–32959 Filed 12–30–15; 8:45 am] BILLING CODE 4915–01–P tkelley on DSK3SPTVN1PROD with NOTICES DEPARTMENT OF THE TREASURY Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act Bureau of the Fiscal Service, Treasury. ACTION: Notice. AGENCY: VerDate Sep<11>2014 16:49 Dec 30, 2015 Jkt 238001 For the period beginning January 1, 2016, and ending on June 30, 2016, the prompt payment interest rate is 21⁄2 per centum per annum. DEPARTMENT OF THE TREASURY Comments or inquiries may be mailed to: E-Commerce Division, Bureau of the Fiscal Service, 401 14th Street SW., Room 306F, Washington, DC 20227. Comments or inquiries may also be emailed to PromptPayment@ fiscal.treasury.gov. AGENCY: SUMMARY: ADDRESSES: Effective January 1, 2016, to June 30, 2016. DATES: FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, (202) 874–6430; or Thomas Kearns, Attorney-Advisor, Office of the Chief Counsel, (202) 874–7036. 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 January 1, 2016, and ending on June 30, 2016, is 21⁄2 per centum per annum. SUPPLEMENTARY INFORMATION: David A. Lebryk, Fiscal Assistant Secretary. [FR Doc. 2015–32957 Filed 12–30–15; 8:45 am] BILLING CODE 4810–AS–P PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 Submission for OMB Review; Comment Request ACTION: Department of the Treasury. Notice. The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104–13, on or after the date of publication of this notice. DATES: Comments should be received on or before February 1, 2016 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@ OMB.EOP.gov and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be obtained by email at PRA@treasury.gov or the entire information collection request may be found at www.reginfo.gov. SUPPLEMENTARY INFORMATION: Internal Revenue Service (IRS) OMB Number: 1545–0771. Type of Review: Extension without change of a previously approved collection. Title: TD 8864 (Final); EE–63–88 (Final and temp regulations) Taxation of Fringe Benefits and Exclusions From Gross Income for Certain Fringe Benefits; IA–140–86 (Temporary) Fringe Benefits. Abstract: This regulation provides guidance on the tax treatment of taxable and nontaxable fringe benefits and general and specific rules for the valuation of taxable fringe benefits in accordance with Code sections 61 and 132 and provides guidance on exclusions from gross income for certain fringe benefits (IA–140–86). This regulation provides guidance relating to the requirement that any deduction or credit with respect to business travel, entertainment, and gift expenses be substantiated with adequate records in accordance with Code section 274(d). Affected Public: Private Sector: Businesses or other for-profit. E:\FR\FM\31DEN1.SGM 31DEN1

Agencies

[Federal Register Volume 80, Number 251 (Thursday, December 31, 2015)]
[Notices]
[Page 81880]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-32957]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice.

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SUMMARY: For the period beginning January 1, 2016, and ending on June 
30, 2016, the prompt payment interest rate is 2\1/2\ per centum per 
annum.

ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, 
Bureau of the Fiscal Service, 401 14th Street SW., Room 306F, 
Washington, DC 20227. Comments or inquiries may also be emailed to 
PromptPayment@fiscal.treasury.gov.

DATES: Effective January 1, 2016, to June 30, 2016.

FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, 
(202) 874-6430; or Thomas Kearns, Attorney-Advisor, Office of the Chief 
Counsel, (202) 874-7036.

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 January 1, 2016, and ending on June 30, 2016, is 2\1/2\ per 
centum per annum.

David A. Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2015-32957 Filed 12-30-15; 8:45 am]
BILLING CODE 4810-AS-P

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