Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act

DEPARTMENT OF THE TREASURY

Fiscal Service

Renegotiation Board Interest Rate; Prompt Payment Interest Rate;

Contract Disputes Act

AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.

ACTION: Notice.

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SUMMARY: For the period beginning July 1, 1998 and ending on December

31, 1998 the prompt payment interest rate is 6% (6) per centum per

annum.

DATES: This notice announces the interest rate applicable for the July

1, 1998 to December 31, 1998 period.

ADDRESSES: Comments or inquiries may be mailed to Sandra K. Jones, Team

Leader, Debt Accounting Branch, Office of Public Debt Accounting,

Bureau of the Public Debt, Parkersburg, West Virginia, 26106-1328. A

copy of this Notice will be made available for downloading from the

http://www.publicdebt.treas.gov.

FOR FURTHER INFORMATION CONTACT: Stephanie Brown, Debt Accounting

Branch Manager, Office of Public Debt Accounting, Bureau of the Public

Debt, Parkersburg, West Virginia, 26106-1328, (304) 480-5171, Sandra K.

Jones, Team Leader, Debt Accounting Branch, Office of Public Debt

Accounting, Bureau of the Public Debt, (304) 480-5174, Edward C.

Gronseth, Deputy Chief Counsel, Office of the Chief Counsel, Bureau of

the Public Debt, (304) 480-5192, or Brenda L. Hoffman, Attorney-

Adviser, Office of the Chief Counsel, Bureau of the Public Debt, (304)

480-5198.

SUPPLEMENTARY INFORMATION: Although the Renegotiation Board is no

longer in existence, other Federal Agencies are required to use

interest rates computed under the criteria established by the

Renegotiation Act of 1971 Sec. 2, Pub. L. 92-41, 85 Stat. 97. For

example, the Contract Disputes Act of 1978 Sec. 12, Pub. L. 95-563, 92

Stat. 2389 and the Prompt Payment Act of 1982 Sec. 2, Pub. L. 97-177,

96 Stat. 85 provide for the calculation of interest due on claims at a

rate established by the Secretary of the Treasury pursuant to 31 U.S.C.

3902(a).

Therefore, notice is hereby given that, pursuant to the above

mentioned sections, the Secretary of the Treasury has determined that

the rate of interest applicable for the purpose of said sections, for

the period beginning July 1, 1998 and ending on December 31, 1998, is 6

per centum per annum.

Dated: June 25, 1998.

Donald V. Hammond,

Acting Fiscal Assistant Secretary.

[FR Doc. 98-17475 Filed 6-26-98; 12:56 pm]

BILLING CODE 4810-39-P