§ 3793. Interest on investments
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/usc/title-22/section-3793A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Calculation of interest For purposes of sections 3721 and 3792 of this title, interest shall be computed, at a rate determined by the Secretary of the Treasury, on the investment of the United States in the Panama Canal as shown in the accounts of the Panama Canal Company at the close of business on the day preceding October 1, 1979, and as adjusted in accordance with subsections
(b)and
(c)of this section. Capital investment for interest purposes shall not include any interest during construction.
(b)Increases and decreases in investment of United States The investment of the United States described in subsection
(a)of this section—
(1)shall be increased by—
(A)the amount of expenditures from the Panama Canal Revolving Fund,,1 and
(B)the value of property transferred to the Commission by any other department or agency of the United States, as determined in accordance with subsection
(c)of this section; and
(2)shall be decreased by—
(A)the amount of the funds deposited in the Panama Canal Revolving Fund,
(B)the value of property transferred to the Republic of Panama pursuant to this chapter or any other Act on or after October 1, 1979, and
(C)the value of property transferred by the Commission to any other department or agency of the United States.
(c)Value of property transferred to Commission The value of property transferred to the Commission by any other department or agency of the United States shall be determined by the Director of the Office of Management and Budget. In computing such value, such Director shall give due consideration to the cost and probable earning power of the transferred property, or the usable value to the Commission if clearly less than cost, and shall make adequate provisions for depreciation, obsolescence, and other determinable decreases in value. Insofar as practicable, the value of such transferred property shall exclude any portion of such value properly allocable to national defense.
(d)Payment and deposit of interest The Panama Canal Commission shall pay to the Treasury of the United States interest on the investment of the United States, as determined under this section. Such interest shall be deposited in the general fund of the Treasury.
(Pub. L. 96–70, title I, § 1603, Sept. 27, 1979, 93 Stat. 490; Pub. L. 99–195, § 1(b), Dec. 23, 1985, 99 Stat. 1349; Pub. L. 100–203, title V, § 5425(a), Dec. 22, 1987, 101 Stat. 1330–274.)
Connections7 cite this · traces to 2
Cited by 7 sections
U.S. Code
statutes-at-large
- Public Law 99–195To amend the Panama Canal Act of 1979 with respect to the payment of interest on the investment of the United States
- Public Law 100–201To authorize the acceptance of a donation of land for addition to Big Bend National Park, in the State of Texas
- Public Law 96–70To provide for the operation and maintenance of the Panama Canal under the Panama Canal Treaty of 1977, and for other purposes
statute-compilations
Traces to 2 documents
16 references not yet in our index
- 1
- Pub. L. 96–70, title I, § 1603
- 93 Stat. 490
- Pub. L. 99–195, § 1(b)
- 99 Stat. 1349
- Pub. L. 100–203, title V, § 5425(a)
- 101 Stat. 1330–274
- Pub. L. 96–70
- 93 Stat. 452
- Pub. L. 100–203, § 5425(a)(1)
- Pub. L. 100–203, § 5425(a)(2)
- Pub. L. 100–203, § 5425(a)(3)
- Pub. L. 99–195
- Pub. L. 100–203
- section 5429 of Pub. L. 100–203
- section 2 of Pub. L. 99–195
Citation graph
cites case law
§ 3793
Interest on investments
Stat.×3
U.S.C.×3
Stat. Comp.×1
Cite1
Pub. L.Pub. L. 96–70, title I, § 1603
Stat.93 Stat. 490
Pub. L.Pub. L. 99–195, § 1(b)
Stat.99 Stat. 1349
Cites 18 · showing 7Cited by 7 across 3 sources