Prompt Payment Interest Rate; Contract Disputes Act, 910 [2016-31903]

Download as PDF 910 Federal Register / Vol. 82, No. 2 / Wednesday, January 4, 2017 / Notices mstockstill on DSK3G9T082PROD with NOTICES The information must be submitted no later than 30 days after the manufacturer begins to manufacture motor vehicles or motor vehicle equipment subject to the FMVSS. No specific form need be used for the submission of this information. NHTSA provides an online portal with a fillable web-based format for use in submitting the required information. This is described in a handbook entitled Requirements for Manufacturers of Motor Vehicles and Motor Vehicle Equipment that can be accessed on the agency’s Web site at https:// vpic.nhtsa.dot.gov/. A description of the reporting requirement is included on pages 8 and 9 of the handbook. Manufacturers who have previously submitted identifying information must ensure that the information on file is accurate and complete by submitting revised information no later than 30 days after a change in the business that affects the validity of that information has occurred. In 2013, NHTSA received submissions of manufacturer identifying information under 49 CFR part 566 from 523 manufacturers. In 2014, the agency received 507 such submissions. In 2015, the agency received 540. Based on this volume of submissions, the agency projects that it will receive approximately 523 part 566 submissions from manufacturers in each of the next three years. Assuming that it will take a manufacturer on average 15 minutes to prepare an online submittal, the agency estimates that 131 hours will be expended on an annual basis by all manufacturers required to submit part 566 identifying information. Description of the Likely Respondents (Including Estimated Number and Proposed Frequency of Responses to the Collection of Information): The agency estimates that it will receive new submissions of manufacturer identifying information under part 566 from approximately 523 manufacturers of motor vehicles and regulated items of motor vehicle equipment per year. The manufacturers need only submit the required information on a one-time basis, with the proviso that they refile their information through the online portal in the event of any changes in the VerDate Sep<11>2014 16:46 Jan 03, 2017 Jkt 241001 information on file within 30 days from the date that any change in that information occurs. Estimate of the Total Annual Reporting and Recordkeeping Burden of the Collection of Information: 131 hours. Estimate of the Total Annual Costs of the Collection of Information: Assuming that the part 566 information that needs to be submitted through the online portal is entered by company officers or employees compensated at an average rate of $30.00 per hour, the agency estimates that $3,930 will be expended on an annual basis by all manufacturers required to submit that information. Comments are invited on: whether the proposed collection of information is necessary for the proper performance of the functions of the Department, including whether the information will have practical utility; the accuracy of the Department’s estimate of the burden of the proposed information collection; ways to enhance the quality, utility and clarity of the information to be collected; and ways to minimize the burden of the collection of information on respondents, including the use of automated collection techniques or other forms of information technology. Jeffrey M. Giuseppe, Director, Office of Vehicle Safety Compliance. [FR Doc. 2016–31888 Filed 1–3–17; 8:45 am] BILLING CODE 4910–59–P DEPARTMENT OF THE TREASURY Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act Bureau of the Fiscal Service, Treasury. ACTION: Notice. AGENCY: For the period beginning January 1, 2017 and ending on June 30, 2017, the prompt payment interest rate is 21⁄2 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 SUMMARY: PO 00000 Frm 00096 Fmt 4703 Sfmt 9990 20227. Comments or inquiries may also be emailed to PromptPayment@ fiscal.treasury.gov. Effective January 1, 2017, to June 30, 2017. 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. 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, 2017, and ending on June 30, 2017, is 21⁄2 per centum per annum. David A. Lebryk, Fiscal Assistant Secretary. [FR Doc. 2016–31903 Filed 1–3–17; 8:45 am] BILLING CODE 4810–AS–P E:\FR\FM\04JAN1.SGM 04JAN1

Agencies

[Federal Register Volume 82, Number 2 (Wednesday, January 4, 2017)]
[Notices]
[Page 910]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-31903]


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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, 2017 and ending on June 
30, 2017, 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, 2017, to June 30, 2017.

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, 2017, and ending on June 30, 2017, is 2\1/2\ per 
centum per annum.

David A. Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2016-31903 Filed 1-3-17; 8:45 am]
 BILLING CODE 4810-AS-P