2011 US Code
Title 41 - Public Contracts
Subtitle I - Federal Procurement Policy (§§ 101 - 4711)
Division C - Procurement (§§ 3101 - 4711)
Chapter 35 - TRUTHFUL COST OR PRICING DATA (§§ 3501 - 3509)
Section 3507 - Interest and penalties for certain overpayments
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 5, Title 41 - PUBLIC CONTRACTS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 41 - PUBLIC CONTRACTS Subtitle I - Federal Procurement Policy Division C - Procurement CHAPTER 35 - TRUTHFUL COST OR PRICING DATA Sec. 3507 - Interest and penalties for certain overpayments |
Contains | section 3507 |
Date | 2011 |
Laws in Effect as of Date | January 3, 2012 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Pub. L. 111-350, §3, Jan. 4, 2011, 124 Stat. 3769. |
Statutes at Large References | 108 Stat. 3283 124 Stat. 3769 |
Public Law References | Public Law 103-355, Public Law 111-350 |
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(a)
(1) for interest on the amount of the overpayment, to be computed—
(A) for the period beginning on the date the overpayment was made to the contractor and ending on the date the contractor repays the amount of the overpayment to the Federal Government; and
(B) at the current rate prescribed by the Secretary of the Treasury under section 6621 of the Internal Revenue Code of 1986 (26 U.S.C. 6621); and
(2) if the submission of the defective data was a knowing submission, for an additional amount equal to the amount of the overpayment.
(b)
(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3769.)
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
---|---|---|
3507 | 41:254b(f). | June 30, 1949, ch. 288, title III, §304A(f), as added Pub. L. 103–355, title I, §1251(a)(2), Oct. 13, 1994, 108 Stat. 3283. |
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