§ 3793. Interest on investments

Footnotes

1. 1 So in original.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1979

   Panama Canal Act of 1979

   Pub. L. 96–70 title I § 1603 · 93 Stat. 452

   Enacted · 22 U.S.C. § 3793

   Pub. L. 96–70, title I, § 1603, Sept. 27, 1979, 93 Stat. 490

   Source evidence

   Code source credit
   Pub. L. 96–70, title I, § 1603, Sept. 27, 1979, 93 Stat. 490

   Enacted provision · exact public law section
   Sec. 1603. calculation of interest (a) For purposes of sections 1311 and 1602 of this Act, interest shall be computed, at a rate determined by the Secretary of the Treasury, on the investment of the United States in the Panama Canal as shown in the accounts of the Panama Canal Company at the close of business on the day preceding the effective date of this Act, and as adjusted in accordance with subsections (b) and (c) of this section. Capital investment for interest purposes shall not include any interest during construction, (b) The investment of the United States described in subsection (a) of this section— (1) shall be increased by— (A) the amount of expenditures from appropriations to the Commission made on or after the effective date of this Act, and (B) the value of property transferred to the Commission by any other department or agency of the United States, as determined in accordance with subsection (c) of this section; and (2) shall be decreased by— (A) the amount of the funds covered into the Treasury pursuant to section 1302 of this Act. (B) the value of property transferred to the Republic of Panama pursuant to this or any other Act on or after the date on which the Panama Canal Treaty of 1977 enters into force, and (C) the value of property transferred by the Commission to any other department or agency of the United States. (c) The value of property transferred to the Commission by any other department or agency of the United States shall be determined by the Director of the Office of Management and Budget. In computing such value, such Director shall give due consideration to the cost and probable earning power of the transferred property, or the usable value to the Commission if clearly less than cost, and shall make adequate provisions for depreciation, obsolesence, and other determinable decreases in value. Insofar as practicable, the value of such transferred property shall exclude any portion of such value properly allocable to national defense.

2. 1985

   Pub. L. 99–195 § 1(b) · 99 Stat. 1349

   Substituted · 22 U.S.C. § 3793(b)(2)(A)

   Pub. L. 99–195 substituted “Panama Canal Commission Fund” for “Treasury”

   Source evidence

   Code amendment note
   Subsec. (b)(2)(A). Pub. L. 99–195 substituted “Panama Canal Commission Fund” for “Treasury”.

3. 1987

   Pub. L. 100–203 § 5425(a)(1) · 101 Stat. 1330

   Substituted · 22 U.S.C. § 3793(b)(1)(A)

   Pub. L. 100–203, § 5425(a)(1), substituted “the Panama Canal Revolving Fund,” for “appropriations to the Commission made on or after October 1, 1979”

   Source evidence

   Code amendment note
   Subsec. (b)(1)(A). Pub. L. 100–203, § 5425(a)(1), substituted “the Panama Canal Revolving Fund,” for “appropriations to the Commission made on or after October 1, 1979”.

   Enacted provision · exact public law section
   (1) in subsection (b)(1)(A), by striking out “appropriations to the Commission made on or after the effective date of this Act” and inserting in lieu thereof “the Panama Canal Revolving Fund,”;

   Effective date note
   Amendment by Pub. L. 100–203 effective Jan. 1, 1988, see section 5429 of Pub. L. 100–203, set out as a note under section 3712 of this title.

4. 1987

   Pub. L. 100–203 § 5425(a)(2) · 101 Stat. 1330

   Substituted · 22 U.S.C. § 3793(b)(2)(A)

   Pub. L. 100–203, § 5425(a)(2), substituted “deposited in the Panama Canal Revolving Fund” for “covered into the Panama Canal Commission Fund pursuant to section 3712 of this title”

   Source evidence

   Code amendment note
   Subsec. (b)(2)(A). Pub. L. 100–203, § 5425(a)(2), substituted “deposited in the Panama Canal Revolving Fund” for “covered into the Panama Canal Commission Fund pursuant to section 3712 of this title”.

   Enacted provision · exact public law section
   (2) in subsection (b)(2)(A), by striking out “covered into the Panama Canal Commission Fund pursuant to section 1302 of this Act” and inserting in lieu thereof “deposited in the Panama Canal Revolving Fund”; and

   Effective date note
   Amendment by Pub. L. 100–203 effective Jan. 1, 1988, see section 5429 of Pub. L. 100–203, set out as a note under section 3712 of this title.

5. 1987

   Pub. L. 100–203 § 5425(a)(3) · 101 Stat. 1330

   Added · 22 U.S.C. § 3793(d)

   Pub. L. 100–203, § 5425(a)(3), added subsec. (d)

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 100–203, § 5425(a)(3), added subsec. (d).

   Enacted provision · exact public law section
   (3) by adding at the end thereof the following new subsection:

   Effective date note
   Amendment by Pub. L. 100–203 effective Jan. 1, 1988, see section 5429 of Pub. L. 100–203, set out as a note under section 3712 of this title.

4 of 5 references resolved to an enrolled provision · 1 partial