Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · REGISTER · 2010-10-26 · Financial Management Service, Fiscal Service, Treasury · Notices

Notices. Notice of rate for use in Federal debt collection and discount and rebate evaluation

342 words·~2 min read·/register/2010/10/26/2010-26815·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

BILLING CODE 4830-01-P DEPARTMENT OF THE TREASURY Fiscal Service Current Value of Funds Rate AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice of rate for use in Federal debt collection and discount and rebate evaluation. SUMMARY: Pursuant to section 11 of the Debt Collection Act of 1982, as amended, (31 U.S.C. 3717), the Secretary of the Treasury is responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government.
Treasury's Cash Management Requirements (TFM Volume I, Part 6, Chapter 8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the Prompt Payment rule on “Rebates” requires that this rate be used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate is 1.00 percent for calendar year 2011.
DATES: The rate will be in effect for the period beginning on January 1, 2011, and ending on December 31, 2011. FOR FURTHER INFORMATION CONTACT: Inquiries should be directed to the Agency Enterprise Solutions Division, Financial Management Service, Department of the Treasury, 401 14th Street, SW., Washington, DC 20227 (Telephone: 202-874-9428). SUPPLEMENTARY INFORMATION: The rate reflects the current value of funds to the Treasury for use in connection with Federal Cash Management systems and is based on investment rates set for purposes of Public Law 95-147, 91 Stat. 1227.
Computed each year by averaging Treasury Tax and Loan (TT&L) investment rates for the 12-month period ending every September 30, rounded to the nearest whole percentage, for applicability effective each January 1, the rate is subject to quarterly revisions if the annual average, on a moving basis, changes by 2 percentage points. The rate in effect for the calendar year 2011 reflects the average investment rates for the 12-month period that ended September 30, 2010. Dated: October 14, 2010.
Sheryl R. Morrow, Assistant Commissioner, Payment Management. [FR Doc. 2010-26815 Filed 10-25-10; 8:45 am]
Connectionstraces to 2
2 references not yet in our index
  • 5 CFR 1315.8
  • Pub. L. 95-147
Citation graph
cites case law
Notices
Notice of rate for use in Federal debt collection and discount and rebate evaluation
U.S.C.§ 3717
Stat.Public Law 95–146
Cite5 CFR 1315.8
Pub. L.Pub. L. 95-147
Cites 4Cited by 0 across 0 sources
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.