26 U.S.C. 405(b)With the approval of the President, the Secretary of the Treasury may increase by regulation the interest rate or investment yield on an offering of bonds issued under this chapter that are described in sections 405(b) and 409(a) of the Internal Revenue Code of 1954 (, 409(a)), as in effect before the enactment of the Tax Reform Act of 1984. The increased yield shall be for interest accrual periods specified in the regulations so that the interest rate or investment yield on the bonds for those periods is consistent with the interest rate or investment yield on a new offering of those bonds.
Pub. L. 97–25896 Stat. 941Pub. L. 98–369, div. A, title IV, § 491(d)(59)98 Stat. 852(, , ; , , .)
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Historical and Revision Notes |
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
3107 | 31:752(last par.). | Sept. 24, 1917, ch. 56, 40 Stat. 288, § 1(last par.); added Dec. 24, 1980, Pub. L. 96–595, § 2(a), 94 Stat. 3465. |
The words “interest rate” are added for consistency in the chapter and with 26:405(b) and 409(a).
Editorial Notes
References in Text
26 U.S.C. 405(b)Pub. L. 98–369, div. A, title IV, § 491(a)98 Stat. 848Sections 405(b) and 409(a) of the Internal Revenue Code of 1954 (, 409(a)), referred to in text, were repealed by , (b), , .
Pub. L. 98–369Enactment of the Tax Reform Act of 1984, referred to in text, means the date of enactment of division A of , which was approved .
Amendments
Pub. L. 98–36926 U.S.C. 405(b)1984— inserted “, as in effect before the enactment of the Tax Reform Act of 1984” after “(, 409(a))”.
Statutory Notes and Related Subsidiaries
Effective Date of 1984 Amendment
Pub. L. 98–369section 491(f)(1) of Pub. L. 98–369section 62 of Title 26Amendment by applicable to obligations issued after , see , set out as a note under , Internal Revenue Code.