Interest and penalty on claims

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Title 31—MONEY AND FINANCE > SUBTITLE III—FINANCIAL MANAGEMENT > CHAPTER 37—CLAIMS > SUBCHAPTER II—CLAIMS OF THE UNITED STATES GOVERNMENT

This text was captured on Sep 16, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

The head of an executive, judicial, or legislative agency shall charge a minimum annual rate of interest on an outstanding debt on a United States Government claim owed by a person that is equal to the average investment rate for the Treasury tax and loan accounts for the 12-month period ending on September 30 of each year, rounded to the nearest whole percentage point. The Secretary of the Treasury shall publish the rate before November 1 of that year. The rate is effective on the first day of the next calendar quarter.

(Added Pub L. 97–452, § 1(16)(A), Jan. 12, 1983 , 96 Stat. 2472 ; amended Pub. L. 104–134, title III, § 31001(c)(1) , (g)(1)(C), (q), Apr. 26, 1996 , 110 Stat. 1321–359 , 1321–363, 1321–372.)

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