Us Code § 3507 - Interest and penalties for certain overpayments
Full text of Us Code United States Code § 3507 — Interest and penalties for certain overpayments, with citation guidance and answers to common questions.
§ 3507. Interest and penalties for certain overpayments
(a)
(1) for interest on the amount of the overpayment, to be computed—
(A) for the period beginning on the date the overpayment was made to the contractor and ending on the date the contractor repays the amount of the overpayment to the Federal Government; and
(B) at the current rate prescribed by the Secretary of the Treasury under section 6621 of the Internal Revenue Code of 1986 (26 U.S.C. 6621); and
(2) if the submission of the defective data was a knowing submission, for an additional amount equal to the amount of the overpayment.
(b)
(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3769.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 3507 | 41:254b(f). | June 30, 1949, ch. 288, title III, §304A(f), as added Pub. L. 103–355, title I, §1251(a)(2), Oct. 13, 1994, 108 Stat. 3283. |
About This Section
41 U.S.C. § 3507 is part of Title 41 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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