80 FR 39482 - Prompt Payment Interest Rate; Contract Disputes Act

DEPARTMENT OF THE TREASURY
Fiscal Service

Federal Register Volume 80, Issue 131 (July 9, 2015)

Page Range		39482-39483
FR Document		2015-16906

For the period beginning July 1, 2015, and ending on December 31, 2015, the prompt payment interest rate is 2-3/8 per centum per annum.

Federal Register, Volume 80 Issue 131 (Thursday, July 9, 2015)

[Federal Register Volume 80, Number 131 (Thursday, July 9, 2015)]
[Notices]
[Pages 39482-39483]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-16906]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice.

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SUMMARY: For the period beginning July 1, 2015, and ending on December 
31,

[[Page 39483]]

2015, the prompt payment interest rate is 2-3/8 per centum per annum.

ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, 
Bureau of the Fiscal Service, 401 14th Street SW., Room 306F, 
Washington, DC 20227. Comments or inquiries may also be emailed to 
[email protected].

DATES: Effective July 1, 2015, to December 31, 2015.

FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, 
(202) 874-6430; or Thomas Kearns, Attorney-Advisor, Office of the Chief 
Counsel, (202) 874-7036.

SUPPLEMENTARY INFORMATION: An agency that has acquired property or 
service from a business concern and has failed to pay for the complete 
delivery of property or service by the required payment date shall pay 
the business concern an interest penalty. 31 U.S.C. 3902(a). The 
Contract Disputes Act of 1978, Sec. 12, Public Law 95-563, 92 Stat. 
2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the 
calculation of interest due on claims at the rate established by the 
Secretary of the Treasury.
    The Secretary of the Treasury has the authority to specify the rate 
by which the interest shall be computed for interest payments under 
section 12 of the Contract Disputes Act of 1978 and under the Prompt 
Payment Act. Under the Prompt Payment Act, if an interest penalty is 
owed to a business concern, the penalty shall be paid regardless of 
whether the business concern requested payment of such penalty. 31 
U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated 
with the interest rate, which is in effect at the time the agency 
accrues the obligation to pay a late payment interest penalty. 31 
U.S.C. 3902(a). ``The interest penalty shall be paid for the period 
beginning on the day after the required payment date and ending on the 
date on which payment is made.'' 31 U.S.C. 3902(b).
    Therefore, notice is given that the Secretary of the Treasury has 
determined that the rate of interest applicable for the period 
beginning July 1, 2015, and ending on December 31, 2015, is 2-3/8 per 
centum per annum.

    Dated: July 7, 2015.
David A. Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2015-16906 Filed 7-8-15; 8:45 am]
 BILLING CODE 4810-AS-P

39482 Federal Register / Vol. 80, No. 131 / Thursday, July 9, 2015 / Notices

We invite comments on: (a) Whether Title: Beer for Exportation. Type of Review: Revision of a
this information collection is necessary OMB Number: 1513–0114. currently approved collection.
for the proper performance of the TTB Form Number: 5130.12. Affected Public: Businesses or other
agency’s functions, including whether Abstract: Under 26 U.S.C. 5051, a for-profits.
the information has practical utility; (b) Federal excise tax is imposed on beer Estimated Number of Respondents:
the accuracy of the agency’s estimate of removed from domestic breweries for 5,925.
the information collection’s burden; (c) consumption or sale. However, under 26 Estimated Total Annual Burden
ways to enhance the quality, utility, and U.S.C. 5053, beer is exempt from this Hours: One.
clarity of the information collected; (d) tax if it is exported in accordance with Title: Bond for Drawback Under 26
ways to minimize the information regulations issued by the Secretary of U.S.C. 5131.
collection’s burden on respondents, the Treasury. Under these regulations, OMB Number: 1513–0116.
including through the use of automated beer may be removed from a brewery for TTB Form Number: 5154.3.
collection techniques or other forms of exportation without payment of the Abstract: The Internal Revenue Code,
information technology; and (e) Federal excise tax normally due on at 26 U.S.C. 5111–5114, authorizes
estimates of capital or start-up costs and removal. In order to ensure that ‘‘drawback’’ (similar to a refund) of all
costs of operation, maintenance, and exportation took place as claimed and but $1.00 per gallon of the Federal
purchase of services to provide the that untaxpaid beer does not reach the excise tax already paid on distilled
requested information. domestic market, TTB requires spirits, if the spirits are subsequently
certification of the exportation on form used in the manufacture of certain
Information Collections Open for TTB F 5130.12. nonbeverage products such as
Comment Current Actions: We are submitting medicines, food products, flavors, and
Currently, we are seeking comments this information collection for extension perfumes. Persons making such
on the following forms, recordkeeping purposes only. The form, estimated products must file claims proving their
requirements, or questionnaires: number of respondents, and estimated eligibility for drawback. Claims may be
Title: Labeling and Advertising number of burden hours remain filed on either a monthly or a quarterly
Requirements Under the Federal unchanged. basis, and 26 U.S.C. 5114(b) authorizes
Alcohol Administration Act. Type of Review: Extension of a the Secretary of the Treasury to require
OMB Number: 1513–0087. currently approved collection. persons filing monthly claims to file a
TTB Form or Recordkeeping Affected Public: Businesses or other bond. The purpose of these bonds is to
Requirement Number: None. for-profits. protect the Government in the event that
Abstract: Under section 105(e) of the Estimated Number of Respondents:
after a claim is paid, a manufacturer is
Federal Alcohol Administration Act 60.
Estimated Total Annual Burden found not to have been eligible for some
(FAA Act), 27 U.S.C. 205(e), TTB has or all of the amount drawback that was
issued regulations regarding the labeling Hours: 5,940.
paid.
and advertising of wine, distilled spirits, Title: Usual and Customary Business Current Actions: We are submitting
and malt beverages. The FAA Act Records Relating to Wine, TTB REC this information collection for extension
provides that these regulations should, 5120/1). purposes only. The form, estimated
among other things, prohibit consumer OMB Number: 1513–0115.
number of respondents, and estimated
deception and the use of misleading TTB Recordkeeping Requirement
number of burden hours remain
statements on labels and ensure that Number: 5120/1.
Abstract: Under 26 U.S.C. 5367, 5369, unchanged.
labels provide the consumer with Type of Review: Extension of a
adequate information as to the identity 5370, and 5555, TTB regulations require
wineries and taxpaid wine bottling currently approved collection.
and quality of the product. Under these Affected Public: Businesses or other
regulations, bottlers and importers of houses to keep usual and customary
for-profits.
alcohol beverages must provide certain business records, including purchase
Estimated Number of Respondents:
mandatory information and adhere to invoices, sales invoices, and internal
52.
certain performance standards for records documenting the flow of
Estimated Total Annual Burden
statements made on labels and in materials and ingredients through
Hours: 10.
advertisements of alcohol beverages to fermenting, processing, packaging,
storing and shipping operations. TTB Dated: July 6, 2015.
ensure that consumers are not deceived
routinely inspects these records to Angela M. Jeffries,
or mislead about a product’s identity
and quality. ensure the proper payment of Federal Acting Director, Regulations and Rulings
Current Actions: TTB is submitting wine excise taxes by these businesses. Division.
this collection as a revision. The Current Actions: TTB is submitting [FR Doc. 2015–16791 Filed 7–8–15; 8:45 am]
information collection requirement this collection as a revision. The BILLING CODE 4810–31–P
remains unchanged. However, we are information collection remains
revising the burden estimate to reflect unchanged. However, we are revising
an increase in the number of the burden estimate to reflect an DEPARTMENT OF THE TREASURY
respondents and the resulting burden increase in the number of respondents
due to an increase in the number of Fiscal Service
hours resulting from an increase in the
number of regulated industry members. regulated industry members. We also
are adjusting the reported burden hours Prompt Payment Interest Rate;
srobinson on DSK5SPTVN1PROD with NOTICES

Type of Review: Revision of a Contract Disputes Act
currently approved collection. to one hour since this information
Affected Public: Businesses or other collection involves usual and customary AGENCY: Bureau of the Fiscal Service,
for-profits. business records which would be Treasury.
Estimated Number of Respondents: maintained by the regulated businesses ACTION: Notice.
9,552. even without the regulatory
Estimated Total Annual Burden requirements to keep and make these SUMMARY: For the period beginning July
Hours: 9,552. records available for TTB inspection. 1, 2015, and ending on December 31,

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Federal Register / Vol. 80, No. 131 / Thursday, July 9, 2015 / Notices 39483

2015, the prompt payment interest rate on the day after the required payment SUPPLEMENTARY INFORMATION:
is 2–3/8 per centum per annum. date and ending on the date on which
payment is made.’’ 31 U.S.C. 3902(b). Electronic and Facsimile Availability
ADDRESSES: Comments or inquiries may
be mailed to: E-Commerce Division, Therefore, notice is given that the The list of Specially Designated
Bureau of the Fiscal Service, 401 14th Secretary of the Treasury has Nationals and Blocked Persons (SDN
Street SW., Room 306F, Washington, DC determined that the rate of interest List) and additional information
20227. Comments or inquiries may also applicable for the period beginning July concerning OFAC sanctions programs
be emailed to PromptPayment@ 1, 2015, and ending on December 31, are available from OFAC’s Web site
fiscal.treasury.gov. 2015, is 2–3/8 per centum per annum. (www.treasury.gov/ofac). Certain general
DATES: Effective July 1, 2015, to Dated: July 7, 2015. information pertaining to OFAC’s
December 31, 2015. David A. Lebryk, sanctions programs is also available via
FOR FURTHER INFORMATION CONTACT: Fiscal Assistant Secretary. facsimile through a 24-hour fax-on-
Thomas M. Burnum, E-Commerce [FR Doc. 2015–16906 Filed 7–8–15; 8:45 am] demand service, tel.: 202/622–0077.
Division, (202) 874–6430; or Thomas BILLING CODE 4810–AS–P
Kearns, Attorney-Advisor, Office of the Notice of OFAC Actions
Chief Counsel, (202) 874–7036. On July 9, 2015, OFAC will unblock
SUPPLEMENTARY INFORMATION: An agency DEPARTMENT OF THE TREASURY the property and interests in property of
that has acquired property or service the following individuals pursuant to
from a business concern and has failed Office of Foreign Assets Control
Executive Order 13219 of June 26, 2001,
to pay for the complete delivery of as amended by Executive Order 13304
property or service by the required Unblocking of Specially Designated
Nationals and Blocked Persons of May 28, 2003.
payment date shall pay the business
concern an interest penalty. 31 U.S.C. Pursuant to Executive Order 13219, as Individuals
3902(a). The Contract Disputes Act of Amended ADEMI, Rahim; DOB 30 Jan 1954; POB
1978, Sec. 12, Public Law 95–563, 92 AGENCY: Office of Foreign Assets Karac, Serbia and Montenegro; ICTY indictee
Stat. 2389, and the Prompt Payment Act, Control, Treasury. (individual) [BALKANS]
31 U.S.C. 3902(a), provide for the LANDZO, Esad; DOB 07 Mar 1973; ICTY
ACTION: Notice.
calculation of interest due on claims at indictee (individual) [BALKANS]
the rate established by the Secretary of SUMMARY: The Treasury Department’s LJUBICIC, Pasko; DOB 15 Nov 1965; POB
the Treasury. Office of Foreign Assets Control (OFAC) Nezirovic, Bosnia-Herzegovina; ICTY
The Secretary of the Treasury has the is removing the names of three indictee (individual) [BALKANS]
authority to specify the rate by which individuals whose property and
the interest shall be computed for The removal of the individuals listed
interests in property are being above from the SDN List is effective as
interest payments under section 12 of unblocked pursuant to Executive Order
the Contract Disputes Act of 1978 and of July 9, 2015. All property and
13219 of June 26, 2001, as amended by
under the Prompt Payment Act. Under interests in property of these persons
Executive Order 13304 of May 28, 2003.
the Prompt Payment Act, if an interest that are in or hereafter come within the
penalty is owed to a business concern, DATES: OFAC’s actions described in this United States or the possession or
the penalty shall be paid regardless of notice are effective July 9, 2015. control of a United States person are no
whether the business concern requested FOR FURTHER INFORMATION CONTACT: longer blocked pursuant to E.O. 13219,
payment of such penalty. 31 U.S.C. Associate Director for Global Targeting, as amended by E.O. 13304.
3902(c)(1). Agencies must pay the tel.: 202/622–2420, Assistant Director
Dated: July 2, 2015.
interest penalty calculated with the for Sanctions Compliance & Evaluation,
tel.: 202/622–2490, Assistant Director John E. Smith,
interest rate, which is in effect at the
time the agency accrues the obligation for Licensing, tel.: 202/622–2480, or Acting Director, Office of Foreign Assets
to pay a late payment interest penalty. Chief Counsel (Foreign Assets Control), Control.
31 U.S.C. 3902(a). ‘‘The interest penalty tel.: 202/622–2410 (not toll free [FR Doc. 2015–16776 Filed 7–8–15; 8:45 am]
shall be paid for the period beginning numbers). BILLING CODE 4810–AL–P
srobinson on DSK5SPTVN1PROD with NOTICES

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Document Created: 2018-02-23 09:13:55
Document Modified: 2018-02-23 09:13:55

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice.
Dates		Effective July 1, 2015, to December 31, 2015.
Contact		Thomas M. Burnum, E-Commerce Division, (202) 874-6430; or Thomas Kearns, Attorney-Advisor, Office of the Chief Counsel, (202) 874-7036.
FR Citation		80 FR 39482

80 FR 39482 - Prompt Payment Interest Rate; Contract Disputes Act

DEPARTMENT OF THE TREASURYFiscal Service

Federal Register Volume 80, Issue 131 (July 9, 2015)

DEPARTMENT OF THE TREASURY
Fiscal Service