2012 US Code
Title 28 - Judiciary and Judicial Procedure
Part VI - PARTICULAR PROCEEDINGS (§§ 2201 - 4105)
Chapter 165 - UNITED STATES COURT OF FEDERAL CLAIMS PROCEDURE (§§ 2501 - 2522)
Section 2516 - Interest on claims and judgments

View Metadata
Metadata
Publication TitleUnited States Code, 2012 Edition, Title 28 - JUDICIARY AND JUDICIAL PROCEDURE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 28 - JUDICIARY AND JUDICIAL PROCEDURE
PART VI - PARTICULAR PROCEEDINGS
CHAPTER 165 - UNITED STATES COURT OF FEDERAL CLAIMS PROCEDURE
Sec. 2516 - Interest on claims and judgments
Containssection 2516
Date2012
Laws in Effect as of DateJanuary 15, 2013
Positive LawYes
Dispositionstandard
Source CreditJune 25, 1948, ch. 646, 62 Stat. 978; Sept. 3, 1954, ch. 1263, §57, 68 Stat. 1248; Pub. L. 97-164, title I, §139(j)(2), title III, §302(d), Apr. 2, 1982, 96 Stat. 43, 56; Pub. L. 97-258, §2(g)(5), (m)(3), Sept. 13, 1982, 96 Stat. 1061, 1062; Pub. L. 102-572, title IX, §902(a)(1), Oct. 29, 1992, 106 Stat. 4516; Pub. L. 106-554, §1(a)(7) [title III, §307(d)(2)], Dec. 21, 2000, 114 Stat. 2763, 2763A-636.
Statutes at Large References26 Stat. 537
36 Stat. 1141
42 Stat. 316
43 Stat. 346, 939
44 Stat. 119
45 Stat. 877
49 Stat. 1746
62 Stat. 978
68 Stat. 1248
96 Stat. 43, 1061, 56, 1062
106 Stat. 4516
114 Stat. 2763
Public Law ReferencesPublic Law 97-164, Public Law 97-258, Public Law 102-572, Public Law 106-554

Download PDF

UNITED STATES COURT OF FEDERAL CLAIMS PROCEDURE - 28 U.S.C. § 2516 (2012)
§2516. Interest on claims and judgments

(a) Interest on a claim against the United States shall be allowed in a judgment of the United States Court of Federal Claims only under a contract or Act of Congress expressly providing for payment thereof.

(b) Interest on a judgment against the United States affirmed by the Supreme Court after review on petition of the United States is paid at a rate equal to the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date of the judgment.

(June 25, 1948, ch. 646, 62 Stat. 978; Sept. 3, 1954, ch. 1263, §57, 68 Stat. 1248; Pub. L. 97–164, title I, §139(j)(2), title III, §302(d), Apr. 2, 1982, 96 Stat. 43, 56; Pub. L. 97–258, §2(g)(5), (m)(3), Sept. 13, 1982, 96 Stat. 1061, 1062; Pub. L. 102–572, title IX, §902(a)(1), Oct. 29, 1992, 106 Stat. 4516; Pub. L. 106–554, §1(a)(7) [title III, §307(d)(2)], Dec. 21, 2000, 114 Stat. 2763, 2763A–636.)

Historical and Revision Notes 1948 Act

Based on title 28, U.S.C., 1940 ed., §284 and section 226 of title 31, U.S.C., 1940 ed., Money and Finance (Sept. 30, 1890, ch. 1126, §1, 26 Stat. 537; Mar. 3, 1911, ch. 231, §177, 36 Stat. 1141; Nov. 23, 1921, ch. 136, §1324(b), 42 Stat. 316; June 2, 1924, ch. 234, §1020, 43 Stat. 346; Feb. 13, 1925, ch. 229, §3(c), 43 Stat. 939; Feb. 26, 1926, ch. 27, §§1117, 1200, 44 Stat. 119, 125; May 29, 1928, ch. 852, §615(a), 45 Stat. 877; June 22, 1936, ch. 690, §808, 49 Stat. 1746).

Subdivision (b) of section 284 of title 28, U.S.C., 1940 ed., was omitted as covered by section 3771 of title 26, U.S.C., 1940 ed., Internal Revenue Code. Such omission required the exception in subdivision (a) of such section 284, reading: “except as provided in subdivision (b)”, to be changed to read: “or Act of Congress expressly providing for payment thereof.”

Subsection (b) of this section is based on the last sentence of section 226 of title 31, U.S.C., 1940 ed., Money and Finance.

Changes were made in phraseology.

1982 Act
Revised SectionSource (U.S. Code)Source (Statutes at Large)
28:2516(b) 28:2516(b)(1st sentence words before “from the date”).

Section 2(g)(5) of the bill restates 28:2516(b) because the provisions in 28:2516(b) on the periods for computing interest were superseded by the source provisions restated in section 1304 of the revised title 31.

Amendments

2000—Subsec. (b). Pub. L. 106–554 substituted “the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding” for “the coupon issue yield equivalent (as determined by the Secretary of the Treasury) of the average accepted auction price for the last auction of fifty-two week United States Treasury bills settled immediately before”.

1992—Subsec. (a). Pub. L. 102–572 substituted “United States Court of Federal Claims” for “United States Claims Court”.

1982—Subsec. (a). Pub. L. 97–164, §139(j)(2), substituted “United States Claims Court” for “Court of Claims”.

Subsec. (b). Pub. L. 97–258 substituted provisions that interest on a judgment against the United States is paid at a rate equal to the coupon issue yield equivalent of the average accepted auction price for the last auction of fifty-two week United States Treasury bills settled immediately before the date of judgment for provisions that such interest would be paid at the rate of four percent per annum from the date of the filing of the transcript of the judgment in the Treasury Department to the date of mandate of affirmance by the Supreme Court and that the interest would not be allowed for any period after the term of the Supreme Court at which the judgment was affirmed, and repealed the amendment made by Pub. L. 97–164, §302(d), eff. Oct. 1, 1982. See, also, section 1304(b) of Title 31, Money and Finance.

Pub. L. 97–164, §§302(d), 402, eff. Oct. 1, 1982, struck out “at the rate of four percent per annum” and all that follows through “affirmance” and inserted in lieu thereof “, from the date of the filing of the transcript of the judgment in the General Accounting Office to the date of the mandate of the affirmance, at a rate of interest 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 fifty-two week United States Treasury bills settled immediately prior to the date of the judgment”.

1954—Subsec. (b). Act Sept. 3, 1954, inserted “for any period” after “allowed” in last sentence.

Effective Date of 1992 Amendment

Amendment by Pub. L. 102–572 effective Oct. 29, 1992, see section 911 of Pub. L. 102–572, set out as a note under section 171 of this title.

Effective Date of 1982 Amendment

Pub. L. 97–258, §2(g)(5), Sept. 13, 1982, 96 Stat. 1061, provided that the amendment made by that section is effective Oct. 1, 1982.

Repeal

Pub. L. 97–164, title III, §302(d), Apr. 2, 1982, 96 Stat. 56, cited as a credit to this section, was repealed by Pub. L. 97–258, §2(m)(3), Sept. 13, 1982, 96 Stat. 1062, eff. Oct. 1, 1982.

Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.