§ 618e. Interest payments; rate

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. 1940

   Pub. L. 76–643 § 6 · 54 Stat. 774

   Enacted · 43 U.S.C. § 618e

   July 19, 1940, ch. 643, § 6, 54 Stat. 777

   Source evidence

   Code source credit
   July 19, 1940, ch. 643, § 6, 54 Stat. 777

   Enacted provision · exact public law section
   Sec. 6. Whenever by the terms of the Project Act or this Act payment Interest rate. of interest is provided for, and whenever interest shall enter into any computation thereunder, such interest shall be. computed at the rate of 3 per centum per annum, compounded annually.

2. 1984

   Hoover Power Plant Act of 1984

   Pub. L. 98–381 title I § 104(a)(5) · 98 Stat. 1333

   Inserted · 43 U.S.C. § 618e

   Pub. L. 98–381 inserted proviso relating to rates of interest on appropriated funds advanced for visitors’ facilities program

   Source evidence

   Code amendment note
   Pub. L. 98–381 inserted proviso relating to rates of interest on appropriated funds advanced for visitors’ facilities program.

   Enacted provision · exact public law section
   (5) By deleting the final period at the end of section 6 and inserting in lieu thereof the following: “: Provided, That the respective rates of interest on appropriated funds advanced for the visitor facilities program, as described in section 101(a) of the Hoover Power Plant Act of 1984, shall be determined by the Ante, p. 1333. Secretary of the Treasury, taking into consideration average market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period of the program during the month preceding the fiscal year in which the costs of the program are incurred. To the extent that more than one interest rate is determined pursuant to the preceding sentence, the Secretary of the Treasury shall establish for repayment purposes an interest rate at a weighted average of the rates so determined.”.

2 of 2 references resolved to an enrolled provision