§ 2516. — Interest on claims and judgments.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 28USC2516]
TITLE 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
(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, Sec. 57,
68 Stat. 1248; Pub. L. 97-164, title I, Sec. 139(j)(2), title III,
Sec. 302(d), Apr. 2, 1982, 96 Stat. 43, 56; Pub. L. 97-258,
Sec. 2(g)(5), (m)(3), Sept. 13, 1982, 96 Stat. 1061, 1062; Pub. L. 102-
572, title IX, Sec. 902(a)(1), Oct. 29, 1992, 106 Stat. 4516; Pub. L.
106-554, Sec. 1(a)(7) [title III, Sec. 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., Sec. 284 and section 226 of
title 31, U.S.C., 1940 ed., Money and Finance (Sept. 30, 1890, ch. 1126,
Sec. 1, 26 Stat. 537; Mar. 3, 1911, ch. 231, Sec. 177, 36 Stat. 1141;
Nov. 23, 1921, ch. 136, Sec. 1324(b), 42 Stat. 316; June 2, 1924, ch.
234, Sec. 1020, 43 Stat. 346; Feb. 13, 1925, ch. 229, Sec. 3(c), 43
Stat. 939; Feb. 26, 1926, ch. 27, Secs. 1117, 1200, 44 Stat. 119, 125;
May 29, 1928, ch. 852, Sec. 615(a), 45 Stat. 877; June 22, 1936, ch.
690, Sec. 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
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Revised Section Source (U.S. Code) Source (Statutes at Large)
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28:2516(b)........................... 28:2516(b)(1st sentence words
before ``from the date'').
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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, Sec. 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, Sec. 302(d), eff. Oct. 1, 1982. See,
also, section 1304(b) of Title 31, Money and Finance.
Pub. L. 97-164, Secs. 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
Section 2(g)(5) of Pub. L. 97-258 provided that the amendment made
by that section is effective Oct. 1, 1982.
Repeal
Section 302(d) of Pub. L. 97-164, cited as a credit to this section,
was repealed by Pub. L. 97-258, Sec. 2(m)(3), Sept. 13, 1982, 96 Stat.
1062, eff. Oct. 1, 1982.
Section Referred to in Other Sections
This section is referred to in section 1961 of this title; title 31
section 1304.
