Prompt Payment Interest Rate; Contract Disputes Act, 47970 [2018-20535]

Download as PDF daltland on DSKBBV9HB2PROD with NOTICES 47970 Federal Register / Vol. 83, No. 184 / Friday, September 21, 2018 / Notices will not yield data that can be generalized to the overall population. The Department will submit a collection for approval under this generic clearance if it meets the following conditions: • The collections are voluntary. • The collections are low-burden for respondents (based on considerations of total burden hours, total number of respondents, or burden-hours per respondent) and are low-cost for both the respondents and the Federal Government. • The collections are noncontroversial and do not raise issues of concern to other Federal agencies. • Any collection is targeted to the solicitation of opinions from respondents who have experience with the program or may have experience with the program in the near future. • Personally identifiable information is collected only to the extent necessary and is not retained. • Information gathered is intended to be used only internally for general service improvement and program management purposes and is not intended for release outside of the Department (if released, the Department must indicate the qualitative nature of the information). This type of generic clearance for qualitative information will not be used for quantitative information collections that are designed to yield reliably actionable results, such as monitoring trends over time or documenting program performance. Such data uses require more rigorous designs that address: The target population to which generalizations will be made, the sampling frame, the sample design (including stratification and clustering), the precision requirements or power calculations that justify the proposed sample size, the expected response rate, methods for assessing potential nonresponse bias, the protocols for data collection, and any testing procedures that were or will be undertaken prior to fielding the study. Depending on the degree of influence the results are likely to have, such collections may still be eligible for submission for other generic mechanisms that are designed to yield quantitative results. Type of Review: New. Affected Public: Individuals and households, businesses and organizations, State, Local or Tribal Governments. Annual Reporting and Recordkeeping Burden: Estimated Number of Respondents: 6,000. Estimated Annual Responses: 6,000. VerDate Sep<11>2014 17:30 Sep 20, 2018 Jkt 244001 Estimated Annual Burden Hours: 3,000. Frequency of Collection: One-time requirement. Issued in Washington, DC, on September 17, 2018. William S. Schoonover, Associate Administrator of Hazardous Materials Safety, Pipeline and Hazardous Materials Safety Administration. [FR Doc. 2018–20521 Filed 9–20–18; 8:45 am] BILLING CODE 4910–60–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 July 1, 2018, and ending on December 31, 2018, the prompt payment interest rate is 31⁄2 per centum per annum. DATES: July 1, 2018 to December 31, 2018. 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. 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. SUMMARY: PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 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, 2018, and ending on December 31, 2018, is 31⁄2 per centum per annum. David A. Lebryk, Fiscal Assistant Secretary. [FR Doc. 2018–20535 Filed 9–20–18; 8:45 am] BILLING CODE 4810–AS–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Action Office of Foreign Assets Control, Treasury. AGENCY: ACTION: Notice. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing an update to the identifying information of a person currently included in the Specially Designated Nationals and Blocked Persons List. All property and interests in property subject to U.S. jurisdiction of this person are blocked, and U.S. persons are generally prohibited from engaging in transactions with this person. SUMMARY: See SUPPLEMENTARY INFORMATION section. DATES: FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490; Assistant Director for Licensing, tel.: 202–622–2480; Assistant Director for Regulatory Affairs, tel. 202–622–4855; or the Department of the Treasury’s Office of the General Counsel: Office of the Chief Counsel (Foreign Assets Control), tel.: 202–622–2410. SUPPLEMENTARY INFORMATION: Electronic Availability The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC’s website (www.treasury.gov/ofac). E:\FR\FM\21SEN1.SGM 21SEN1

Agencies

[Federal Register Volume 83, Number 184 (Friday, September 21, 2018)]
[Notices]
[Page 47970]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-20535]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: For the period beginning July 1, 2018, and ending on December 
31, 2018, the prompt payment interest rate is 3\1/2\ per centum per 
annum.

DATES: July 1, 2018 to December 31, 2018.

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 
[email protected].

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 July 1, 2018, and ending on December 31, 2018, is 3\1/2\ per 
centum per annum.

David A. Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2018-20535 Filed 9-20-18; 8:45 am]
 BILLING CODE 4810-AS-P