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40 U.S.C. · Public Buildings, Property, and Works
40 U.S.C. § 3116

Interest as part of just compensation

Ch. 31 — GENERAL
Title 40 U.S.C. ● ACTIVE Primary Source Ch. 31
Statutory Text

40 U.S.C. § 3116 — Interest as part of just compensation

U.S.C. Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS 40 U.S.C. United States Code, 2023 Edition Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS SUBTITLE II - PUBLIC BUILDINGS AND WORKS PART A - GENERAL CHAPTER 31 - GENERAL SUBCHAPTER II - ACQUIRING LAND Sec. 3116 - Interest as part of just compensation From the U.S. Government Publishing Office, www.gpo.gov

§3116. Interest as part of just compensation

(a) Calculation.—The district court shall calculate interest required to be paid under this subchapter as follows: (1) Period of not more than one year.—Where the period for which interest is owed is not more than one year, interest shall be calculated from the date of taking at an annual rate equal to the weekly average one-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 taking. (2) Period of more than one year.—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 amount by which the award of compensation is more than the deposit referred to in section 3114 of this title, plus accrued interest, at an annual rate equal to the weekly average one-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the beginning of each additional year.

(b) Distribution of Notice of Rates.—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) of subsection (a).

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1146.)

Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large)

3116(a) 40:258e–1 (less last sentence). Feb. 26, 1931, ch. 307, §6, as added Pub. L. 99–656, §1(2), Nov. 14, 1986, 100 Stat. 3668; Pub. L. 106–554, §1(a)(7) [§307(a)], Dec. 21, 2000, 114 Stat. 2763A–635.

3116(b) 40:258e–1 (last sentence).

Source: uscode.house.gov — public domain Official Source ↗
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40 U.S.C. § 3116
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The statutory text of 40 U.S.C. § 3116 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 31 — GENERAL
40 U.S.C. § 310140 U.S.C. § 310240 U.S.C. § 310340 U.S.C. § 310440 U.S.C. § 310540 U.S.C. § 311140 U.S.C. § 311240 U.S.C. § 311340 U.S.C. § 311440 U.S.C. § 311540 U.S.C. § 311640 U.S.C. § 311740 U.S.C. § 311840 U.S.C. § 313140 U.S.C. § 313240 U.S.C. § 313340 U.S.C. § 313440 U.S.C. § 314140 U.S.C. § 314240 U.S.C. § 314340 U.S.C. § 314440 U.S.C. § 314540 U.S.C. § 314640 U.S.C. § 314740 U.S.C. § 314840 U.S.C. § 316140 U.S.C. § 316240 U.S.C. § 317140 U.S.C. § 317240 U.S.C. § 3173
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