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 January 1, 1999 and ending on June

30, 1999, the prompt payment interest rate is 5% (five) per centum per

annum.

DATES: This notice announces the interest rate applicable for the

January 1, 1999 to June 30, 1999 period.

ADDRESSES: Comments or inquiries may be mailed to Cynthia S. Winters,

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 E. Brown, Director, Division

of Accounting Operations, Office of Public Debt Accounting, Bureau of

the Public Debt, Parkersburg, West Virginia, 26106-1328, (304) 480-

5180, Cynthia S. Winters, 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) 480-3692, or Brenda L. Hoffman,

Attorney-Adviser, Office of the Chief Counsel, Bureau of the Public

Debt, (304) 480-3698.

SUPPLEMENTARY INFORMATION: Although the Renegotiation Board is no

longer in

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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 January 1, 1999 and ending on June 30, 1999, is

five per centum per annum.

Dated: December 22, 1998.

Donald V. Hammond,

Fiscal Assistant Secretary.

[FR Doc. 98-34492 Filed 12-30-98; 8:45 am]

BILLING CODE 4810-39-P