Guam § 1106 - Adjustment of Dollar Amounts.

§ 1106. Adjustment of Dollar Amounts.

(1) From time to time the dollar amounts in this title designated as

subject to change shall change, as provided in this section, in accordance

with and to the extent of changes in the Consumer Price Index for Urban

Wage Earners and Clerical Workers: U.S. City Average, All Items, 1957-59

= 100, compiled by the Bureau of Labor Statistics, United States

Department of Labor, and hereafter referred to as the Index for December

1967, is the Reference Base Index.

(2) The designated dollar amounts shall change on July 1 of each even-

numbered year if the percentage of change, calculated to the nearest whole

percentage point, between the Index at the end of the preceding year and the

Reference Base Index is ten per cent (10%), or more, except that:

(a) the portion of the percentage change in the Index in excess of

a multiple of ten per cent (10%) shall be disregarded and the dollar

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amounts shall change only in multiples of ten percent (10%) of the

amounts appearing in this Title on June 30, 1969;

(b) the dollar amounts shall not change if the amounts required by

this Section are those currently in effect pursuant to this Act and

(c) in no event shall the dollar amounts be reduced below the

amounts appearing in this Act on the date of enactment.

(3) On or before April 30 of each year in which dollar amounts change,

the Administrator shall issue a rule announcing the changes. Until the

Administrator issues the rule required by this subsection, no person is in

violation of this Title who acts in reliance upon the dollar amounts

appearing in the last rule announcing changes, or, if no changes have been

announced, upon the amounts appearing in this Act on the date of

enactment.

(4) The designated dollar amount shall change upon the effective date

of this Act if the percentage of change between the Index at the end of the

odd-numbered year preceding the effective date of this Act and the

Reference Base Index would require change pursuant to subsection (2). The

Administrator shall promptly issue a rule announcing the changes. Until the

Administrator issues the rule required by this subsection, no person is in

violation of this Title who acts in reliance upon the dollar amounts appear-

ing in this Title on the date of enactment.

(5) If the Index is revised after December 1967, the percentage of

change pursuant to this Section shall be calculated on the basis of the

revised Index. If the revision of the Index changes the Reference Base

Index, a revised Reference Base Index shall be determined by multiplying

the Reference Base Index then applicable by the ratio of the revised Index

to the current Index, as each was for the first month in which the revised

Index was available. If the Index is superseded, the Index referred to in this

Section shall be the one represented by the Bureau of Labor Statistics as

reflecting most accurately changes in the purchasing power of the dollar for

consumers.