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40 U.S.C. § 3116 — Interest as part of just compensation

Federal law — U.S. Code and appendices · legal_authorities

40 U.S.C. § 3116 — Interest as part of just compensation

**(a) Calculation.—** The district court shall calculate interest required to be paid under this subchapter as follows: (1) **Period of not more than one year.—** — Where the period for which interest is owed is not more than one year, interest shall be calculated from the date of taking at an annual rate equal to the weekly average one-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date of taking. (2) **Period of more than one year.—** — 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 amount by which the award of compensation is more than the deposit referred to in [section 3114 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section3114&num=0&edition=prelim), plus accrued interest, at an annual rate equal to the weekly average one-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the beginning of each additional year. **(b) Distribution of Notice of Rates.—** 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) of subsection (a).

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Source file: Laws/federal/codes/united-states-code/title-40/section-3116-interest-as-part-of-just-compensation--e4afb1c066.md
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Source location: Title 40, Chapter 31, § 3116; chapter-031-general.md

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Federal law — U.S. Code and appendices · legal_authorities

40 U.S.C. § 3114 — Declaration of taking

**(a) Filing and Content.—** In any proceeding in any court of the United States outside of the District of Columbia brought by and in the name of the United States and under the authority of the Federal Government to acquire land, or an easement or right of way in land, for the public use, the petitioner may file, with the petition or at any time before judgment, a declaration of taking signed by the authority empowered by law to acquire the land described in the petition, declaring that the land is taken for the use of the Government. The declaration of taking shall contain or have annexed to it— (1) a statement of the authority under which, and the public use for which, the land is taken; (2) a description of the land taken that is sufficient to identify the land; (3) a statement of the estate or interest in the land taken for public use; (4) a plan showing the land taken; and (5) a statement of the amount of money estimated by the acquiring authority to be just compensation for the land taken. **(b) Vesting of Title.—** On filing the declaration of taking and depositing in the court, to the use of the persons entitled to the compensation, the amount of the estimated compensation stated in the declaration— (1) title to the estate or interest specified in the declaration vests in the Government; (2) the land is condemned and taken for the use of the Government; and (3) the right to just compensation for the land vests in the persons entitled to the compensation. **(c) Compensation.—** (1) **Determination and award.—** — Compensation shall be determined and awarded in the proceeding and established by judgment. The judgment shall include interest, in accordance with [section 3116 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-tit

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Federal law — U.S. Code and appendices · legal_authorities

40 U.S.C. § 3116 — Interest as part of just compensation

Page 116 TITLE 40—PUBLIC BUILDINGS, PROPERTY, AND WORKS § 3115 ered by law to acquire the land described in the petition, declaring that the land is taken for the use of the Government. The declaration of tak- ing shall contain or have annexed to it— (1) a statement of the authority under which, and the public use for which, the land is taken; (2) a description of the land taken that is sufficient to identify the land; (3) a statement of the estate or interest in the land taken for public use; (4) a plan showing the land taken; and (5) a statement of the amount of money esti- mated by the acquiring authority to be just compensation for the land taken. (b) VESTING OF TITLE.—On filing the declara- tion of taking and depositing in the court, to the use of the persons entitled to the compensation, the amount of the estimated compensation stat- ed in the declaration— (1) title to the estate or interest specified in the declaration vests in the Government; (2) the land is condemned and taken for the use of the Government; and (3) the right to just compensation for the land vests in the persons entitled to the com- pensation. (c) COMPENSATION.— (1) DETERMINATION AND AWARD.—Compensa- tion shall be determined and awarded in the proceeding and established by judgment. The judgment shall include interest, in accordance with section 3116 of this title, on the amount finally awarded as the value of the property as of the date of taking and shall be awarded from that date to the date of payment. Inter- est shall not be allowed on as much of the compensation as has been paid into the court. Amounts paid into the court shall not be charged with commissions or poundage. (2) ORDER TO PAY.—On application of the par- ties in interest, the court may order that an

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