Page:United States Statutes at Large Volume 100 Part 5.djvu/194

 100 STAT. 3668

PUBLIC LAW 99-656—NOV. 14, 1986

Public Law 99-656 99th Congress

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An Act Nov. 14, 1986 [H.R. 5363]

Infra. 40 USC 258e-i.

Health and "^^fla^^fna' notY 11 USC 1101.

To amend the interest provisions of the Declaration of Taking Act.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Act of February 26, 1931 (40 U.S.C. 258a through 258e), is amended— (1) in the second paragraph of the first section by striking "interest at the rate of 6 per centum per annum", and inserting "interest in accordance with section 6 of this Act"; and (2) by adding at the end the following: "SEC. 6. Interest required to be paid under this Act shall be calculated by the district court as follows: "(1) Where the period for which interest is owed does not exceed one year, interest shall be calculated for such period from the date of taking at an annual 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 52 week United States Treasury bills settled immediately before the date of taking, "(2) Where the period for which interest is owed is more than one year, interest for the first year shall be calculated in accordance with paragraph (1) and interest for each additional year shall be calculated on the combined amount of the principal (the amount by which the award of compensation exceeds the deposit referred to in the first section of this Act) and accrued interest at an annual 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 52 week United States Treasury bills settled immediately before the beginning of each additional year. The Director of the Administrative Office of the United States Courts shall distribute to all Federal courts notice of the rates described in paragraphs (1) and (2).". SEC. 2. (a) Notwithstanding any other provision of chapter 11 of ^i^^® •'^^» United States Code, the bankruptcy trustee in each case described in subsection (b) shall pay benefits until May 15, 1987, to retired former employees under a plan, fund, or program maintained or established by the debtor in such case prior to filing a petition (through the purchase of insurance or otherwise) for the purpose of providing medical, surgical, or hospital care benefits, or benefits in the event of sickness, accident, disability, or death, (b) This section is effective with respect to— (1) cases commenced under chapter 11 of title 11, United States Code, in which a plan for reorganization has not been confirmed by the court and in which any such benefit is still being paid on October 2, 1986; (2) in cases under which an order for relief is entered under chapter 11 of title 11, United States Code, after October 2, 1986, while such case is a case under chapter 11; or

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