§ 1961. — Interest.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 28USC1961]
TITLE 28--JUDICIARY AND JUDICIAL PROCEDURE
PART V--PROCEDURE
CHAPTER 125--PENDING ACTIONS AND JUDGMENTS
Sec. 1961. Interest
(a) Interest shall be allowed on any money judgment in a civil case
recovered in a district court. Execution therefor may be levied by the
marshal, in any case where, by the law of the State in which such court
is held, execution may be levied for interest on judgments recovered in
the courts of the State. Such interest shall be calculated from the date
of the entry of the judgment, 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.\1\ the date of the judgment. The Director of the
Administrative Office of the United States Courts shall distribute
notice of that rate and any changes in it to all Federal judges.
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\1\ So in original. The period probably should not appear.
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(b) Interest shall be computed daily to the date of payment except
as provided in section 2516(b) of this title and section 1304(b) of
title 31, and shall be compounded annually.
(c)(1) This section shall not apply in any judgment of any court
with respect to any internal revenue tax case. Interest shall be allowed
in such cases at the underpayment rate or overpayment rate (whichever is
appropriate) established under section 6621 of the Internal Revenue Code
of 1986.
(2) Except as otherwise provided in paragraph (1) of this
subsection, interest shall be allowed on all final judgments against the
United States in the United States Court of Appeals for the Federal
circuit,\2\ at the rate provided in subsection (a) and as provided in
subsection (b).
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\2\ So in original. Probably should be capitalized.
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(3) Interest shall be allowed, computed, and paid on judgments of
the United States Court of Federal Claims only as provided in paragraph
(1) of this subsection or in any other provision of law.
(4) This section shall not be construed to affect the interest on
any judgment of any court not specified in this section.
(June 25, 1948, ch. 646, 62 Stat. 957; Pub. L. 97-164, title III,
Sec. 302(a), Apr. 2, 1982, 96 Stat. 55; Pub. L. 97-258, Sec. 2(m)(1),
Sept. 13, 1982, 96 Stat. 1062; Pub. L. 97-452, Sec. 2(d)(1), Jan. 12,
1983, 96 Stat. 2478; Pub. L. 99-514, Sec. 2, title XV, Sec. 1511(c)(17),
Oct. 22, 1986, 100 Stat. 2095, 2745; Pub. L. 102-572, title IX,
Sec. 902(b)(1), Oct. 29, 1992, 106 Stat. 4516; Pub. L. 106-554,
Sec. 1(a)(7) [title III, Sec. 307(d)(1)], Dec. 21, 2000, 114 Stat. 2763,
2763A-636.)
Historical and Revision Notes
Based on title 28, U.S.C., 1940 ed., Sec. 811 (R.S. Sec. 966; Mar.
3, 1911, ch. 231, Sec. 291, 36 Stat. 1167).
Changes were made in phraseology.
References in Text
Section 6621 of the Internal Revenue Code of 1986, referred to in
subsec. (c)(1), is classified to section 6621 of Title 26, Internal
Revenue Code.
Amendments
2000--Subsec. (a). 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 prior to''.
1992--Subsec. (c)(3). Pub. L. 102-572 substituted ``United States
Court of Federal Claims'' for ``United States Claims Court''.
1986--Subsec. (c)(1). Pub. L. 99-514, Sec. 1511(c)(17), substituted
``the underpayment rate or overpayment rate (whichever is appropriate)
established'' for ``a rate established''.
Pub. L. 99-514, Sec. 2, substituted ``Internal Revenue Code of
1986'' for ``Internal Revenue Code of 1954''.
1983--Subsec. (b). Pub. L. 97-452 substituted ``section 1304(b) of
title 31'' for ``section 1302 of the Act of July 27, 1956 (31 U.S.C.
724a)''.
1982--Subsec. (a). Pub. L. 97-164, Sec. 302(a)(1), (2), designated
existing provisions as subsec. (a), substituted ``at a rate 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'' for ``at the rate allowed by State law'', and
inserted provision that the Director of the Administrative Office of the
United States Courts distribute notice of the rate and any changes in it
to all Federal judges.
Subsec. (b). Pub. L. 97-258 substituted ``this title and section
1304(b)(1) of title 31'' for ``title 28, United States Code, and section
1302 of the Act of July 27, 1956 (31 U.S.C. 724a)''.
Subsecs. (b), (c). Pub. L. 97-164, Sec. 302(a)(3), added subsecs.
(b) and (c).
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 1986 Amendment
Amendment by section 1511(c)(17) of Pub. L. 99-514 applicable for
purposes of determining interest for periods after Dec. 31, 1986, see
section 1511(d) of Pub. L. 99-514, set out as a note under section 6621
of Title 26, Internal Revenue Code.
Effective Date of 1982 Amendments
Section 2(m) of Pub. L. 97-258 provided that the amendment made by
that section is effective Oct. 1, 1982.
Amendment by Pub. L. 97-164 effective Oct. 1, 1982, see section 402
of Pub. L. 97-164, set out as a note under section 171 of this title.
Section Referred to in Other Sections
This section is referred to in sections 2412, 2465 of this title;
title 15 section 4303; title 21 section 844a; title 22 section 6082;
title 26 section 6622.
