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2003 SESSION

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HB 1950 Commonwealth Transp. Commissioner condemnations; rate of interest.

Introduced by: Thelma Drake | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Commonwealth Transportation Commissioner condemnations; rate of interest. Provides that interest on certain obligations of the Commonwealth Transportation Commissioner to owners of property acquired through condemnation proceedings will accrue at the rate of interest established pursuant to § 6621 (a) (2) of the Internal Revenue Code. Currently, interest accrues at the general account composite rate as complied by the Department of the Treasury.


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