74408 Federal Register / Vol. 72, No. 249 / Monday, December 31, 2007 / Notices 

Issued in Washington, DC on December 21, 

2007. 

D.J. Stadtler, 

Director, Office of Financial Management, 

Federal Railroad Administration. 

[FR Doc. E7–25334 Filed 12–28–07; 8:45 am] 

BILLING CODE 4910–06–P 

DEPARTMENT OF THE TREASURY 

Fiscal Service 

Prompt Payment Interest Rate; 

Contract Disputes Act 

AGENCY: Bureau of the Public Debt, 

Fiscal Service, Treasury. 

ACTION: Notice. 

SUMMARY: For the period beginning 

January 1, 2008, and ending on June 30, 

2008, the prompt payment interest rate 

and the contract disputes interest rate is 

4-3⁄4 per centum per annum. 

ADDRESSES: Comments or inquires may 

be mailed to Carol Brooks, Accountant, 

Borrowings Accounting Team, Division 

of Accounting Operations, Office of 

Public Debt Accounting, Bureau of the 

Public Debt, Parkersburg, West Virginia, 

26106–1328. A copy of this Notice is 

available at http:// 

www.publicdebt.treas.gov. 

DATES: Effective January 1, 2008 to June 

30, 2008. 

FOR FURTHER INFORMATION CONTACT: 

Veronica Lowther, Acting Director, 

Division of Accounting Operations, 

Office of Public Debt Accounting, 

Bureau of the Public Debt, Parkersburg, 

West Virginia, 26106–1328, (304) 480–

5161; Carol Brooks, Accountant, 

Borrowings Accounting Team, Division 

of Accounting Operations, Office of 

Public Debt Accounting, Bureau of the 

Public Debt, Parkersburg, West Virginia 

26106–1328, (304) 480–5167; Amy 

Mertz Brown, Deputy Chief Counsel, 

Office of the Chief Counsel, Bureau of 

the Public Debt, (202) 504–3715; or 

Brenda L. Hoffman, Attorney-Advisor, 

Office of the Chief Counsel, Bureau of 

the Public Debt, (202) 504–3706. 

SUPPLEMENTARY INFORMATION: An agency 

acquiring property or services from a 

business concern, but failing to pay for 

each complete delivered item of 

property or service by the required 

payment date, must pay the business 

concern an interest penalty, commonly 

known as the Prompt Payment Interest 

Penalty. 31 U.S.C. 3902(a). The 

applicable interest rate for determining 

this penalty is the rate established by 

the Secretary of the Treasury under § 12 

of the Contract Disputes Act (codified at 

41 U.S.C. 611) and in effect at the time 

the agency accrues the obligation to pay 

this late payment interest penalty. 31 

U.S.C. 3902(a). Agencies must pay the 

interest penalty calculated with the 

Prompt Payment Interest Rate, ‘‘for the 

period beginning on the day after the 

required payment date and ending on 

the date on which the payment is 

made.’’ 31 U.S.C. 3902(b). If an interest 

penalty is owed to a business concern 

because of a late payment, the penalty 

must be paid regardless of whether the 

business concern requested payment of 

the penalty. 

An agency also must pay interest on 

claims found due to contractors that are 

submitted to procuring agencies for 

payment, payable for the time period 

between when the contracting officer 

receives the claim and when the 

procuring agency pays the claim. 

Contract Disputes Act § 12;41 U.S.C. 

611. 

The Secretary is required to establish 

an interest rate for both of these 

purposes. 31 U.S.C. 3902(a); 41 U.S.C. 

611. Therefore, notice is given that the 

Secretary of the Treasury has 

determined that the rate of interest for 

purposes of both Prompt Payment and 

the Contract Disputes Act, applicable for 

the period beginning January 1, 2008, 

and ending on June 30, 2008, is 4-3⁄4 per 

centum per annum. 

Kenneth E. Carfine, 

Fiscal Assistant Secretary 

[FR Doc. 07–6197 Filed 12–28–08; 8:45 am] 

BILLING CODE 4810–39–M 


sroberts on PROD1PC70 with NOTICES