A bill to amend the interest provisions of the Declaration of Taking Act.
PL 99-656 (H.R.5363), enacted 11/14/1986

100 STAT. 3668 
PUBLIC LAW 99-656—NOV. 14, 1986 
Public Law 99-656 
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, 
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99th Congress 
An Act 
Nov. 14, 1986 
[H.R. 5363] 
To amend the interest provisions of the Declaration of Taking Act. 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That the Act of 
February 26, 1931 (40 U.S.C. 258a through 258e), is amended— 
(1) in the second paragraph of the first section by striking 
"interest at the rate of 6 per centum per annum", and inserting 
Infra. 
"interest in accordance with section 6 of this Act"; and 
(2) by adding at the end the following: 
40 use 258e-i. 
"SEC. 6. Interest required to be paid under this Act shall be 
calculated by the district court as follows: 
"(1) Where the period for which interest is owed does not 
exceed one year, interest shall be calculated for such period 
from the date of taking at an annual rate equal to the coupon 
issue yield equivalent (as determined by the Secretary of the 
Treasury) of the average accepted auction price for the last 
auction of 52 week United States Treasury bills settled imme-
diately before the date of taking, 
"(2) Where the period for which interest is owed is more than 
one year, interest for the first year shall be calculated in 
accordance with paragraph (1) and interest for each additional 
year shall be calculated on the combined amount of the prin-
cipal (the amount by which the award of compensation exceeds 
the deposit referred to in the first section of this Act) and 
accrued interest at an annual rate equal to the coupon issue 
yield equivalent (as determined by the Secretary of the Treas-
ury) of the average accepted auction price for the last auction of 
52 week United States Treasury bills settled immediately before 
the beginning of each additional year. 
The Director of the Administrative Office of the United States 
Courts shall distribute to all Federal courts notice of the rates 
described in paragraphs (1) and (2).". 
Health and 
SEC. 2. (a) Notwithstanding any other provision of chapter 11 of 
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» United States Code, the bankruptcy trustee in each case 
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described in subsection (b) shall pay benefits until May 15, 1987, to 
11 use 1101. 
retired former employees under a plan, fund, or program main-
tained or established by the debtor in such case prior to filing a 
petition (through the purchase of insurance or otherwise) for the 
purpose of providing medical, surgical, or hospital care benefits, or 
benefits in the event of sickness, accident, disability, or death, 
(b) This section is effective with respect to— 
(1) cases commenced under chapter 11 of title 11, United 
States Code, in which a plan for reorganization has not been 
confirmed by the court and in which any such benefit is still 
being paid on October 2,1986; 
(2) in cases under which an order for relief is entered under 
chapter 11 of title 11, United States Code, after October 2, 1986, 
while such case is a case under chapter 11; or 
PUBLIC LAW 99-656—NOV. 14, 1986 
100 STAT. 3669 
(3) in cases under title 11, United States Code, involving a 
partnership which was in existence prior to July 17, 1986, and 
was the subject of a petition under chapter 11 of title 11, United 
States Code, upon which an order for relief was entered by a 
bankruptcy court on August 7, 1986, and where one of the 
,; 
partners received bankruptcy court authorization on August 6, 
1986, approving rejection of a partnership agreement, 
(c) If any provision of this section or the application thereof to any 
person or circumstance is held invalid, the provisions of every other 
part of this sectiop and the first section shall not be affected 
thereby. 
Approved November 14, 1986. 
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LEGISLATIVE HISTORY—H.R. 5363 (S. 2424): 
HOUSE REPORTS: No. 99-914 (Comm. on the Judiciary). 
CONGRESSIONAL RECORD, Vol. 182 (1986): 
Sept. 29, considered and passed House. 
Oct. 16, considered and passed Senate, amended. 
Oct. 17, House concurred in certain Senate amendment with an amendment; 
Senate concurred in House amendment. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 22 1986): 
Nov. 14, Presidential statement.