Notice of Proposed Rulemaking CFR 203: Payment of Federal Taxes and the Treasury Tax and Loan Program
Updated September 30, 1999 |
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Federal Register: July 30, 1999 (Volume 64, Number 146) Proposed Rules Page
41748-41749 from the "Federal Register Online" via GPO Access
- Download a copy of 31 CFR 203; Notice of Proposed Rulemaking:
31
CFR 203; NPRM (Text File) (7/30/99)
31
CFR 203; NPRM (PDF File) (7/30/99)
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Summary:
The Department of the Treasury (Treasury), Financial Management Service (FMS), is
proposing a revision of its regulations governing the Treasury Tax and Loan (TT&L)
program and specifically a change to the interest rate Treasury charges on TT&L note
balances, including funds loaned through the direct investment and special direct
investment programs. Under the current rule, the TT&L rate of interest is the Federal
funds rate published weekly by the Board of Governors of the Federal Reserve System less
25 basis points. Treasury is proposing to change the basis for computing the TT&L rate
of interest to an overnight repurchase agreement rate in order to better approximate the
market interest rate for collateralized lending.
Other Related Sites:
Automated Clearing House (ACH)
Electronic Federal Tax Payment System (EFTPS)
Treasury Financial Manual - Vol 4 Ch 2000: Maintaining
TT&L Accounts
Federal Reserve Federal Tax Payment
Operating Circular
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