Prompt Payment Interest Rate; Contract Disputes Act, 1839 [2022-00391]

Download as PDF Federal Register / Vol. 87, No. 8 / Wednesday, January 12, 2022 / Notices Application No. Applicant Regulation(s) affected 1839 Nature of the special permits thereof Special Permits Data—Denied 21254–N ............ Praxair Distribution, Inc .......... 173.301(f)(1) .......................... 21290–N ............ Orion Engineered Carbons LLC. 171.23(b)(10)(iv)(A) ............... To authorize the transportation in commerce Chlorine (UN1017) in DOT specification cylinders, UN standard cylinders prescribed in part 178 of 49 CFR, DOT special permit cylinders, or TC cylinders which are not equipped with pressure relief devices. To authorize the transportation in commerce of Dinitrogen Tetroxide in non-DOT specification cylinders. Special Permits Data—Withdrawn 21251–N ............ Luxfer Inc ............................... [FR Doc. 2022–00452 Filed 1–11–22; 8:45 am] BILLING CODE 4910–60–P DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act Bureau of the Fiscal Service, Treasury. ACTION: Notice of prompt payment interest rate; Contract Disputes Act. AGENCY: To authorize the manufacture, marking, sale and use of non-DOT specification fully wrapped composite cylinders with load sharing aluminum liner with either aramid fiber or carbon fiber reinforcement, for use in aircraft with a limited number of filling cycles. 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, 2022, and ending on June 30, 2022, is 15⁄8 per centum per annum. For the period beginning January 1, 2022, and ending on June 30, 2022, the prompt payment interest rate is 15⁄8 per centum per annum. DATES: Applicable January 1, 2022, to June 30, 2022. 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. Timothy E. Gribben, Commissioner, Bureau of the Fiscal Service. FOR FURTHER INFORMATION CONTACT: [FR Doc. 2022–00391 Filed 1–11–22; 8:45 am] SUMMARY: lotter on DSK11XQN23PROD with NOTICES1 173.302a(a), 180.205 ............ Thomas M. Burnum, E-Commerce Division, (202) 874–6430; or Thomas Kearns, Senior Counsel, 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. VerDate Sep<11>2014 17:04 Jan 11, 2022 Jkt 256001 BILLING CODE 4810–AS–P DEPARTMENT OF VETERANS AFFAIRS Loan Guaranty: Assistance to Eligible Individuals in Acquiring Specially Adapted Housing; Cost-ofConstruction Index Department of Veterans Affairs. Notice. AGENCY: ACTION: The Department of Veterans Affairs (VA) announces that the aggregate amounts of assistance available under the Specially Adapted Housing (SAH) grant program will SUMMARY: PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 increase by .85 percent for fiscal year (FY) 2022. DATES: The increases in the aggregate amounts outlined in this notice are effective as of October 1, 2021. FOR FURTHER INFORMATION CONTACT: Terry Rouch, Assistant Director for Loan Policy and Valuation, Loan Guaranty Service, Veterans Benefits Administration, Department of Veterans Affairs, 810 Vermont Avenue NW, Washington, DC 20420, 202–632–8862. (This is not a toll-free number.) SUPPLEMENTARY INFORMATION: In accordance with 38 U.S.C. 2102(e), 38 U.S.C. 2102A(b)(2), 38 U.S.C. 2102B(b)(2) and 38 CFR 36.4411, the Secretary of Veterans Affairs announces for FY 2022 the aggregate amounts of assistance available to veterans and Service members eligible for SAH program grants. Section 2102(e)(2) authorizes the Secretary to increase the aggregate amounts of SAH assistance annually based on a residential home cost-of construction index. Per 38 CFR 36.4411(a), the Secretary uses the Turner Building Cost Index for this purpose. Such increase will be equal to the percentage by which the Turner Building Cost Index for the most recent calendar year exceeds that of the next preceding calendar year. If, however, the Turner Building Cost Index for the most recent full calendar year is equal to or less than the next preceding calendar year, the percentage increase will be zero. See 38 CFR 36.4411(b). In the most recent quarter for which the Turner Building Cost Index is available, second quarter of 2021, the index showed an increase of .85 percent over the index value listed for second quarter of 2020. https://www.turner construction.com/cost-index (last visited August 2, 2021). Pursuant to 38 CFR 36.4411(a), therefore, the aggregate E:\FR\FM\12JAN1.SGM 12JAN1

Agencies

DEPARTMENT OF THE TREASURY
Bureau of the Fiscal Service

[Federal Register Volume 87, Number 8 (Wednesday, January 12, 2022)]
[Notices]
[Page 1839]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-00391]


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

DEPARTMENT OF THE TREASURY

Bureau of the Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice of prompt payment interest rate; Contract Disputes Act.

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

SUMMARY: For the period beginning January 1, 2022, and ending on June 
30, 2022, the prompt payment interest rate is 1\5/8\ per centum per 
annum.

DATES: Applicable January 1, 2022, to June 30, 2022.

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, Senior Counsel, 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, 2022, and ending on June 30, 2022, is 1\5/8\ per 
centum per annum.

Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2022-00391 Filed 1-11-22; 8:45 am]
BILLING CODE 4810-AS-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.