Title 31 — Money and Finance
Chapter 31 — Public Debt
§ 3107. Increasing interest rates and investment yields on retirement bonds
Statutory text
With the approval of the President, the Secretary of the Treasury may increase by regulation the interest rate or investment yield on an offering of bonds issued under this chapter that are described in sections 405(b) and 409(a) of the Internal Revenue Code of 1954 (26 U.S.C. 405(b), 409(a)), as in effect before the enactment of the Tax Reform Act of 1984. The increased yield shall be for interest accrual periods specified in the regulations so that the interest rate or investment yield on the bonds for those periods is consistent with the interest rate or investment yield on a new offering of those bonds.
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.
Pub. L. 97–258 · 96 Stat. 941
Enacted · 31 U.S.C. § 3107
Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 941
Source evidence
Code source credit
Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 941Tax Reform Act of 1984
Pub. L. 98–369 div. A title IV § 491(d)(59) · 98 Stat. 494
Inserted · 31 U.S.C. § 3107
Pub. L. 98–369 inserted “, as in effect before the enactment of the Tax Reform Act of 1984” after “(26 U.S.C. 405(b), 409(a))”
Source evidence
Code amendment note
Pub. L. 98–369 inserted “, as in effect before the enactment of the Tax Reform Act of 1984” after “(26 U.S.C. 405(b), 409(a))”.Enacted provision · exact public law section
(59) The first sentence of section 3107 of title 31, United States Code, is amended by inserting before the period “, as in effect before the enactment of the Tax Reform Act of 1984”.Effective date note
Amendment by Pub. L. 98–369 applicable to obligations issued after Dec. 31, 1983, see section 491(f)(1) of Pub. L. 98–369, set out as a note under section 62 of Title 26, Internal Revenue Code.
1 of 2 references resolved to an enrolled provision · 1 partial
Notes
historicalAndRevision
| Historical and Revision Notes | ||
|---|---|---|
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
| 3107 | 31:752(last par.). | Sept. 24, 1917, ch. 56, 40 Stat. 288, § 1(last par.); added Dec. 24, 1980, Pub. L. 96–595, § 2(a), 94 Stat. 3465. |
The words “interest rate” are added for consistency in the chapter and with 26:405(b) and 409(a).
Editorial Notes
References in Text
Sections 405(b) and 409(a) of the Internal Revenue Code of 1954 (26 U.S.C. 405(b), 409(a)), referred to in text, were repealed by Pub. L. 98–369, div. A, title IV, § 491(a), (b), , 98 Stat. 848.
Enactment of the Tax Reform Act of 1984, referred to in text, means the date of enactment of division A of Pub. L. 98–369, which was approved .
Amendments
1984—Pub. L. 98–369 inserted “, as in effect before the enactment of the Tax Reform Act of 1984” after “(26 U.S.C. 405(b), 409(a))”.
Statutory Notes and Related Subsidiaries
Effective Date of 1984 Amendment
Amendment by Pub. L. 98–369 applicable to obligations issued after , see section 491(f)(1) of Pub. L. 98–369, set out as a note under section 62 of Title 26, Internal Revenue Code.
Credits
1982–1984 · 2 acts
- 1982Pub. L. 97–258, , 96 Stat. 941
- 1984Pub. L. 98–369, div. A, title IV, § 491(d)(59), , 98 Stat. 852.
Show as published
(Pub. L. 97–258, , 96 Stat. 941; Pub. L. 98–369, div. A, title IV, § 491(d)(59), , 98 Stat. 852.)