Volume 90 · 217
Public Law 94–232
To increase the temporary debt limit, and for other purposes.
Approved March 15, 1976
Statutory text
An Act
To increase the temporary debt limit, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That during the
Public debt limit.
Temporary increase.
Repeal; effective date.
period beginning on the date of the enactment of this Act and ending on June 30, 1976, the public debt limit set forth In the first sentence of section 21 of the Second Liberty Bond Act (31 (J.S.C. 707b) shall be temporarily increased by $227,099,000,000.
Sec. 2.
Effective on the date of the enactment of this Act, the first section of the Act of November 14, 1975, entitled “An Act to increase the temporary debt limitation until March 15, 1976” (Public Law 94–132), is hereby repealed.
Sec. 3.
The last sentence of the second paragraph of the first section of the Second Liberty Bond Act (31 U.S.C. 752) is amended by striking out “$10,000,009,000” and inserting in lieu thereof “$12,000,000,000”.
Section 18(a) of the Second Liberty Bond Act (31 U.S.C. 753) is amended by striking out “seven years” and inserting in lieu thereof “ten years”.
Sec. 4.
Section 22(b)(1) of the Second Liberty Bond Act (31 U.S.C.
U.S. savings bonds, interest rate.
757c(b)) is amended by adding at the end thereof the following new sentence: “The investment yield on series E savings bonds shall in no case be less than 4 per centum per annum compounded semiannually for the period (beginning on the first day of the calendar month following the date of issuance (or, beginning on October 1, 1976, if later) and ending on the last day of the calendar month preceding the date of redemption.”.
Approved March 15, 1976.