[Congressional Bills 103th Congress] [From the U.S. Government Publishing Office] [S. 2026 Introduced in Senate (IS)] 103d CONGRESS 2d Session S. 2026 To amend the Panama Canal Act of 1979 to require the payment of interest on certain damages awarded by the Panama Canal Commission. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 19 (legislative day, April 11), 1994 Mr. Akaka (for himself and Mr. Inouye) introduced the following bill; which was read twice and referred to the Committee on Armed Services _______________________________________________________________________ A BILL To amend the Panama Canal Act of 1979 to require the payment of interest on certain damages awarded by the Panama Canal Commission. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section 1411 of the Panama Canal Act of 1979 (22 U.S.C. 3771) is amended-- (1) in subsection (a), by inserting ``, including interest under subsection (c),'' after ``damages''; and (2) by adding at the end the following new subsection: ``(c) Damages which are adjusted and payable under subsection (a) shall include interest calculated from the date of filing of the claim to the date of payment. Such interest shall be computed at the rate the Secretary of the Treasury establishes for interest payments under section 12 of the Contract Disputes Act of 1978 (41 U.S.C. 611).''. (b) The amendment made by subsection (a) shall be deemed to have become effective as of April 1, 1988. <all>