Prompt Payment Interest Rate; Contract Disputes Act, 16616 [2024-04833]

Download as PDF 16616 Federal Register / Vol. 89, No. 46 / Thursday, March 7, 2024 / Notices MARAD–2024–0028 or visit the Docket Management Facility (see ADDRESSES for hours of operation). We recommend that you periodically check the Docket for new submissions and supporting material. Will my comments be made available to the public? Yes. Be aware that your entire comment, including your personal identifying information, will be made publicly available. May I submit comments confidentially? If you wish to submit comments under a claim of confidentiality, you should submit the information you claim to be confidential commercial information by email to SmallVessels@ dot.gov. Include in the email subject heading ‘‘Contains Confidential Commercial Information’’ or ‘‘Contains CCI’’ and state in your submission, with specificity, the basis for any such confidential claim highlighting or denoting the CCI portions. If possible, please provide a summary of your submission that can be made available to the public. In the event MARAD receives a Freedom of Information Act (FOIA) request for the information, procedures described in the Department’s FOIA regulation at 49 CFR 7.29 will be followed. Only information that is ultimately determined to be confidential under those procedures will be exempt from disclosure under FOIA. Privacy Act Anyone can search the electronic form of all comments received into any of our dockets by the name of the individual submitting the comment (or signing the comment, if submitted on behalf of an association, business, labor union, etc.). For information on DOT’s compliance with the Privacy Act, please visit https://www.transportation.gov/ privacy. (Authority: 49 CFR 1.93(a), 46 U.S.C. 55103, 46 U.S.C. 12121) By Order of the Maritime Administrator. T. Mitchell Hudson, Jr., Secretary, Maritime Administration. [FR Doc. 2024–04898 Filed 3–6–24; 8:45 am] khammond on DSKJM1Z7X2PROD with NOTICES BILLING CODE 4910–81–P DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service Notice of prompt payment interest rate; Contract Disputes Act. ACTION: Office of Foreign Assets Control For the period beginning January 1, 2024, and ending on June 30, 2024, the prompt payment interest rate is 47⁄8 per centum per annum. DATES: Applicable January 1, 2024, to June 30, 2024. 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. SUMMARY: 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, 2024, and ending on June 30, 2024, is 47⁄8 per centum per annum. Prompt Payment Interest Rate; Contract Disputes Act Timothy E. Gribben, Commissioner, Bureau of the Fiscal Service. Bureau of the Fiscal Service, Treasury. [FR Doc. 2024–04833 Filed 3–6–24; 8:45 am] AGENCY: VerDate Sep<11>2014 16:13 Mar 06, 2024 Jkt 262001 DEPARTMENT OF THE TREASURY BILLING CODE 4810–AS–P PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has removed from OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) the names of persons whose property and interests in property had been blocked pursuant to Zimbabwe sanctions authorities. SUMMARY: See SUPPLEMENTARY INFORMATION for applicable date(s). FOR FURTHER INFORMATION CONTACT: OFAC: Bradley T. Smith, Director, tel.: 202–622–2490; Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Licensing, tel.: 202–622–2480; Assistant Director for Regulatory Affairs, tel.: 202–622–4855; or the Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622– 2490. SUPPLEMENTARY INFORMATION: DATES: Electronic Availability The SDN List and additional information concerning OFAC sanctions programs are available on OFAC’s website (https://www.treasury.gov/ofac). Notice of OFAC Actions Effective March 4, 2024, Executive Order (E.O.) 13288 of March 6, 2003, ‘‘Blocking Property of Persons Undermining Democratic Processes or Institutions in Zimbabwe,’’ E.O. 13391 of November 22, 2005, ‘‘Blocking Property of Additional Persons Undermining Democratic Processes or Institutions in Zimbabwe,’’ and E.O. 13469 of July 25, 2008, ‘‘Blocking Property of Additional Persons Undermining Democratic Processes or Institutions in Zimbabwe’’ (collectively ‘‘the Orders’’) were revoked pursuant to the Executive Order on the ‘‘Termination of Emergency with Respect to the Situation in Zimbabwe.’’ As a result of the revocation of the Orders, effective March 4, 2024, the persons listed below are no longer subject to the blocking provisions of the Orders, and therefore were removed from the SDN List. Individuals 1. CHARAMBA, George; DOB 04 Apr 1963; Passport AD001255 (Zimbabwe); Permanent Secretary, Zimbabwean Ministry of E:\FR\FM\07MRN1.SGM 07MRN1

Agencies

DEPARTMENT OF THE TREASURY
Bureau of the Fiscal Service

[Federal Register Volume 89, Number 46 (Thursday, March 7, 2024)]
[Notices]
[Page 16616]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04833]


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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.

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SUMMARY: For the period beginning January 1, 2024, and ending on June 
30, 2024, the prompt payment interest rate is 4\7/8\ per centum per 
annum.

DATES: Applicable January 1, 2024, to June 30, 2024.

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, 2024, and ending on June 30, 2024, is 4\7/8\ per 
centum per annum.

Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2024-04833 Filed 3-6-24; 8:45 am]
BILLING CODE 4810-AS-P

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