An amendment to provide that the interest rates be determined by the weighted average yield of all publicly held, interest bearing, marketable issues sold during the fiscal year in which the expenditures of the U.S. were or are made, but shall not be less than 5 percent per year. The bill would use the average yield obtained by the Treasury upon its marketable public obligations sold during the fiscal year in which the expenditures of the U.S. are made and which are not due or collectible for 15 years from date of issuance. The bill has no minimum interest rate.

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Amendment Number
499
Description
An amendment to provide that the interest rates be determined by the weighted average yield of all publicly held, interest bearing, marketable issues sold during the fiscal year in which the expenditures of the U.S. were or are made, but shall not be less than 5 percent per year. The bill would use the average yield obtained by the Treasury upon its marketable public obligations sold during the fiscal year in which the expenditures of the U.S. are made and which are not due or collectible for 15 years from date of issuance. The bill has no minimum interest rate.
Purpose
An amendment to provide that the interest rates be determined by the weighted average yield of all publicly held, interest bearing, marketable issues sold during the fiscal year in which the expenditures of the U.S. were or are made, but shall not be less than 5 percent per year. The bill would use the average yield obtained by the Treasury upon its marketable public obligations sold during the fiscal year in which the expenditures of the U.S. are made and which are not due or collectible for 15 years from date of issuance. The bill has no minimum interest rate.
Congress
97
Type
HAMDT
Latest Action Date
May 6, 1982
Latest Action Text
Amendment Passed in Committee of the Whole by Voice Vote.
Submitted Date
May 6, 1982
Chamber
House of Representatives
Update Date
Aug 14, 2021
Amendment 499 — Informed