§618e Interest Payments; Rate

Summary

When interest is required under the Project Act or this subchapter, calculate it at 3 percent per year, compounded once each year. For appropriated funds used for the visitor facilities program (section 619(a)), the Secretary of the Treasury must set the interest rates by looking at average market yields on outstanding marketable U.S. obligations with remaining maturities similar to the program’s reimbursement period during the month before the fiscal year when the program costs are incurred. If more than one rate is found, the Secretary must use a weighted average for repayment.