Code of Maine Rules
18 - DEPARTMENT OF ADMINISTRATIVE AND FINANCIAL SERVICES
185 - STATE CLAIMS COMMISSION
Chapter 110 - RULES OF PRACTICE GOVERNING THE CONDUCT OF ADJUDICATORY PROCEEDINGS FOR REAL PROPERTY ACQUISITION CASES
Section 185-110-30 - Interest on Awards

(A) Unless in the course of the proceedings the property owner has requested a continuance and that request for continuance has been granted, in which case no interest shall be paid during the duration of that continuance as required by Section 17(B) of these rules, simple interest from the date of taking until the date of the award shall be allowed at the one-year United States Treasury bill rate plus three (3) percent.

(B) For purposes of this section, "the one-year United States Treasury bill rate" means the average one-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last full week of the calendar year immediately prior to the calendar year in which the acquisition or "taking" by the condemning authority of the property interest that is the subject of the award occurred.

(C) If the Board of Governors of the Federal Reserve System ceases to publish the weekly average one-year constant maturity Treasury yield or if the rate defined in paragraph (B) above is otherwise unavailable, then the rate as established by the Maine Supreme Judicial Court pursuant to 14 M.R.S. Section1602-B(3)(B), as amended, shall be the rate upon an award under this section is calculated.