11 U.S.C. § 511 — Rate of interest on tax claims
submitted 21 years ago by Pub. L. 109-8 to r/title-11-BANKRUPTCY · 89 words · no verdicts yet
This section sets out the rules about Rate of interest on tax claims. It states the duties, permissions, limits, definitions, or penalties provided in the section.
(a) If any provision of this title requires the payment of interest on a tax claim* or on an administrative expense tax, or the payment of interest to enable a creditor* to receive the present value of the allowed amount of a tax claim, the rate of interest shall be the rate determined under applicable nonbankruptcy law. (b) In the case of taxes paid under a confirmed plan under this title, the rate of interest shall be determined as of the calendar month in which the plan is confirmed.
If any provision of this title requires the payment of interest on a tax claim* or on an administrative expense tax, or the payment of interest to enable a creditor* to receive the present value of the allowed amount of a tax claim, the rate of interest shall be the rate determined under applicable nonbankruptcy law.
In the case of taxes paid under a confirmed plan under this title, the rate of interest shall be determined as of the calendar month in which the plan is confirmed.
Source credit: (Added Pub. L. 109–8, title VII, § 704(a), Apr. 20, 2005, 119 Stat. 125.)
- 2005Enacted · Pub. L. 109-8 · 119 Stat. 125
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-8 on 2005-04-20.
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