U.S. Code » Title 40 » Subtitle SUBTITLE II— PUBLIC BUILDINGS AND WORKS › Part PART A— GENERAL › Chapter CHAPTER 31— GENERAL › Subchapter SUBCHAPTER II— ACQUIRING LAND

40 U.S.C. § 3116

Interest as part of just compensation

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(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, 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).(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1146.)

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

3116(a)

40:258e–1 (less last sentence).

Feb. 26, 1931, ch. 307, § 6, as added Pub. L. 99–656, § 1(2), Nov. 14, 1986, 100 Stat. 3668; Pub. L. 106–554, § 1(a)(7) [§ 307(a)], Dec. 21, 2000, 114 Stat. 2763A–635.

3116(b)

40:258e–1 (last sentence).

Notes of Decisions
Cited in 33 cases (7 in the last 5 years), 2004–2024 · leading case: Textainer Equip. Mgmt. Ltd. v. United States, 99 Fed. Cl. 211 (Fed. Cl. 2011).
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Textainer Equip. Mgmt. Ltd. v. United States, 99 Fed. Cl. 211 (Fed. Cl. 2011). · cites it 3× “8 The defendant argues that the court should instead apply an interest rate that is no more than the rate set forth in the Declaration of Takings Act, 40 U.S.C. § 3116 (“DTA”), which is based on the “weekly average one-year constant maturity Treasury yield.”
Arkansas Game & Fish Comm'n v. United States, 87 Fed. Cl. 594 (Fed. Cl. 2009). · cites it 2× “The court has considered the use of the interest rate specified in 40 U.S.C. § 3116 that applies to just compensation attendant to a declaration of taking.”
Liberty Square Dev. Trust v. City of Worcester, 808 N.E.2d 245 (Mass. 2004). · cites it 2× “§ 258e-l (2000) (recodified at 40 U.S.C. § 3116 ); Minn. Stat. § 117.195 (1997); Minn.”
Sears v. United States, 124 Fed. Cl. 730 (Fed. Cl. 2016). “In some eases, courts have applied the interest rate set forth in the Declaration of Taking Act, 40 U.S.C. § 3116 , which states that in condemnation cases, the interest rate shall be tied to the “one-year constant maturity Treasury yield” (the yield of the security known as the…”
Love Terminal Partners, L.P. v. United States, 126 Fed. Cl. 389 (Fed. Cl. 2016). · cites it 2× “Defendant argues that if plaintiffs are entitled to an award of just compensation, to include interest, the court should use the interest rate set forth in the Declaration of Taking Act, 40 U.S.C. § 3116 (2012) (“DTA”). Def.’s Contentions of Fact & Law 39-40.”
Vaizburd v. United States, 67 Fed. Cl. 499 (Fed. Cl. 2005). “50, plus compound interest pursuant to 40 U.S.C. § 3116 , from December 31, 1995, the date of taking, to the date of payment.”
Textainer Equip. Mgmt. Ltd. v. United States, 115 Fed. Cl. 708 (Fed. Cl. 2014). “The government seeks a ruling that Capital is not enti- *712 tied to just compensation for any of the 477 containers, and that interest, if established, should be limited to the rate under the Declaration of Takings Act (“DTA”), 40 U.S.C. § 3116 . For the reasons that follow,…”
St. Bernard Par. Gov't v. United States, 126 Fed. Cl. 707 (Fed. Cl. 2016). · cites it 2× “Since the appropriate amount of interest for a Fifth Amendment Takings Clause claim has not been established by statute, the Government suggests that the Declaratory Takings Act, 40 U.S.C. § 3116 (“DTA”), is an appropriate benchmark, because Congress specifically amended the DTA…”
United States v. 191.07 Acres of Land, & Milan Martinek, 482 F.3d 1132 (9th Cir. 2007). “After briefing by the parties on the question of the appropriate rate of interest, the court concluded that the rate of interest owed to Martinek on the deficiency in the government’s deposit and the judgment was the rate established in the Declaration of Taking Act, 40 U.S.C. §…”
United States v. Certain Land Situated, 450 F.3d 205 (6th Cir. 2006). “§ 258e-l(2) (now 40 U.S.C. § 3116 (a)). DIBCO argued below that the Declaration of Taking Act set an inadequate rate to compensate the company for the lengthy delay in receiving payment.”
United States v. Montalvo (S.D. Tex. 2021). · cites it 4× “All taxes, liens, encumbrances, and charges of whatever nature existing against the interests taken in the subject 15 See 40 U.S.C. § 3116 . properties as of March 24, 2020,16 shall be deducted from the compensation distributed by this decree.”
St. Bernard Par. Gov't v. United States (Fed. Cl. 2016). · cites it 2× “Since the appropriate amount of interest for a Fifth Amendment Takings Clause claim has not been established by statute, the Government suggests that the Declaratory Takings Act, 40 U.S.C. § 3116 (“DTA”), is an appropriate benchmark, because Congress specifically amended the DTA…”
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