§ 3564. Annual adjustment of amounts of educational assistance

(a) With respect to any fiscal year, the Secretary shall provide a percentage increase in the rates payable under sections 3532, 3534(b), and 3542(a) of this title equal to the percentage by which—

(1) the Consumer Price Index (all items, United States city average) for the 12-month period ending on the June 30 preceding the beginning of the fiscal year for which the increase is made, exceeds

(2) such Consumer Price Index for the 12-month period preceding the 12-month period described in paragraph (1).

(b) Any increase under subsection (a) in a rate with respect to a fiscal year after fiscal year 2004 and before fiscal year 2014 shall be rounded down to the next lower whole dollar amount. Any such increase with respect to a fiscal year after fiscal year 2013 shall be rounded to the nearest whole dollar amount.

(Added Pub. L. 106–419, title I, § 111(f)(1)(A), Nov. 1, 2000, 114 Stat. 1831; amended Pub. L. 108–183, title III, § 304(b), Dec. 16, 2003, 117 Stat. 2660.)

Amendments

Amendments

2003—Pub. L. 108–183 designated existing provisions as subsec. (a), struck out “(rounded to the nearest dollar)” after “percentage increase”, and added subsec. (b).

Effective Date

Effective Date

Pub. L. 106–419, title I, § 111(f)(3), Nov. 1, 2000, 114 Stat. 1831, as amended by Pub. L. 107–14, § 8(b)(1), June 5, 2001, 115 Stat. 36, provided that: “Sections 3564 and 3687(d) of title 38, United States Code, as added by this subsection, shall take effect on October 1, 2001.”