United States Code (Last Updated: May 24, 2014) |
Title 31. MONEY AND FINANCE |
SubTitle III. FINANCIAL MANAGEMENT |
Chapter 31. PUBLIC DEBT |
SubChapter I. BORROWING AUTHORITY |
§ 3107. Increasing interest rates and investment yields on retirement bonds
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With the approval of the President, the Secretary of the Treasury may increase by regulation the interest rate or investment yield on an offering of bonds issued under this chapter that are described in sections 405(b) and 409(a) of the Internal Revenue Code of 1954 (26 U.S.C. 405(b), 409(a)), as in effect before the enactment of the Tax Reform Act of 1984. The increased yield shall be for interest accrual periods specified in the regulations so that the interest rate or investment yield on the bonds for those periods is consistent with the interest rate or investment yield on a new offering of those bonds.
Historical And Revision
Historical and Revision Notes | ||
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
3107 | 31:752(last par.). | Sept. 24, 1917, ch. 56, 40 Stat. 288, § 1(last par.); added Dec. 24, 1980, Pub. L. 96–595, § 2(a), 94 Stat. 3465. |
The words “interest rate” are added for consistency in the chapter and with 26:405(b) and 409(a).
References In Text
Sections 405(b) and 409(a) of the Internal Revenue Code of 1954 (26 U.S.C. 405(b), 409(a)), referred to in text, were repealed by Pub. L. 98–369, div. A, title IV, § 491(a), (b),
Enactment of the Tax Reform Act of 1984, referred to in text, means the date of enactment of division A of Pub. L. 98–369, which was approved
Amendments
1984—Pub. L. 98–369 inserted “, as in effect before the enactment of the Tax Reform Act of 1984” after “(26 U.S.C. 405(b), 409(a))”.
Effective Date Of Amendment
Amendment by Pub. L. 98–369 applicable to obligations issued after