Professional Documents
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chenpi@niaid.nih.gov Law 109–416 (Combating Autism Act of whichever rate is higher. The interest
REGISTRATION: Pre-registration is 2006), which amends Title III of the rate for debentures issued under these
required and must be completed by Public Health Service Act, by adding other provisions with respect to a loan
August 24, 2007. Please go to the Part R, section 399CC, authorizing or mortgage committed or endorsed
following web site for information about establishment of the Interagency Autism during the 6-month period beginning
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42100 Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
July 1, 2007, is 5 percent. However, as or mortgage (except for debentures change the debenture interest rate for
a result of an amendment to section 224 issued pursuant to section 221(g)(4)) purposes of calculating certain
of the Act, if an insurance claim relating with insurance commitment or insurance claim payments made in cash.
to a mortgage insured under sections endorsement date (as applicable) within Therefore, for all claims paid in cash on
203 or 234 of the Act and endorsed for the latter 6 months of 2007. mortgages insured under section 203 or
insurance after January 23, 2004, is paid For convenience of reference, HUD is 234 of the National Housing Act and
in cash, the debenture interest rate for publishing the following chart of endorsed for insurance after January 23,
purposes of calculating a claim shall be debenture interest rates applicable to 2004, the debenture interest rate will be
the monthly average yield, for the mortgages committed or endorsed since the monthly average yield, for the
month in which the default on the January 1, 1980: month in which the default on the
mortgage occurred, on United States mortgage occurred, on United States
Treasury Securities adjusted to a Effective
interest on or after prior to Treasury Securities adjusted to a
constant maturity of 10 years. rate constant maturity of 10 years, as found
FOR FURTHER INFORMATION CONTACT: in Federal Reserve Statistical Release H–
Yong Sun, Department of Housing and 91⁄2 ....... Jan. 1, 1980 ....... July 1, 1980.
15. The Federal Housing Administration
Urban Development, 451 Seventh Street, 97⁄8 ....... July 1, 1980 ....... Jan. 1, 1981.
113⁄4 ..... Jan. 1, 1981 ....... July 1, 1981. has codified this provision in HUD
SW., Room 2238, Washington, DC
127⁄8 ..... July 1, 1981 ....... Jan. 1, 1982. regulations at 24 CFR 203.405(b) and 24
20410–8000; telephone (202) 402–4778
123⁄4 ..... Jan. 1, 1982 ....... Jan. 1, 1983. CFR 203.479(b).
(this is not a toll-free number). 101⁄4 ..... Jan. 1, 1983 ....... July 1, 1983.
Individuals with speech or hearing Section 221(g)(4) of the Act provides
103⁄8 ..... July 1, 1983 ....... Jan. 1, 1984.
impairments may access this number 111⁄2 ..... Jan. 1, 1984 ....... July 1, 1984. that debentures issued pursuant to that
through TTY by calling the toll-free 133⁄8 ..... July 1, 1984 ....... Jan. 1, 1985. paragraph (with respect to the
Federal Information Relay Service at 115⁄8 ..... Jan. 1, 1985 ....... July 1, 1985. assignment of an insured mortgage to
(800) 877–8339. 111⁄8 ..... July 1, 1985 ....... Jan. 1, 1986. the Secretary) will bear interest at the
SUPPLEMENTARY INFORMATION: Section
101⁄4 ..... Jan. 1, 1986 ....... July 1, 1986. ‘‘going Federal rate’’ in effect at the time
81⁄4 ....... July 1, 1986 ....... Jan. 1. 1987.
224 of the National Housing Act (12 8 ........... Jan. 1, 1987 ....... July 1, 1987.
the debentures are issued. The term
U.S.C. 1715o) provides that debentures 9 ........... July 1, 1987 ....... Jan. 1, 1988. ‘‘going Federal rate’’ is defined to mean
issued under the Act with respect to an 91⁄8 ....... Jan. 1, 1988 ....... July 1, 1988. the interest rate that the Secretary of the
insured loan or mortgage (except for 93⁄8 ....... July 1, 1988 ....... Jan. 1, 1989. Treasury determines, pursuant to a
debentures issued pursuant to section 91⁄4 ....... Jan. 1, 1989 ....... July 1, 1989. statutory formula based on the average
221(g)(4) of the Act) will bear interest at 9 ........... July 1, 1989 ....... Jan. 1, 1990. yield on all outstanding marketable
the rate in effect on the date the 81⁄8 ....... Jan. 1, 1990 ....... July 1, 1990.
9 ........... July 1, 1990 ....... Jan. 1, 1991.
Treasury obligations of 8- to 12-year
commitment to insure the loan or maturities, for the 6-month periods of
83⁄4 ....... Jan. 1, 1991 ....... July 1, 1991.
mortgage was issued, or the date the 81⁄2 ....... July 1, 1991 ....... Jan. 1, 1992. January through June and July through
loan or mortgage was endorsed (or 8 ........... Jan. 1, 1992 ....... July 1, 1992. December of each year. Section 221(g)(4)
initially endorsed if there are two or 8 ........... July 1, 1992 ....... Jan. 1, 1993. is implemented in the HUD regulations
more endorsements) for insurance, 73⁄4 ....... Jan. 1, 1993 ....... July 1, 1993. at 24 CFR 221.255 and 24 CFR 221.790.
whichever rate is higher. This provision 7 ........... July 1, 1993 ....... Jan. 1, 1994.
is implemented in HUD’s regulations at 65⁄8 ....... Jan. 1, 1994 ....... July 1, 1994. The Secretary of the Treasury has
24 CFR 203.405, 203.479, 207.259(e)(6), 73⁄4 ....... July 1, 1994 ....... Jan. 1, 1995. determined that the interest rate to be
and 220.830. These regulatory 83⁄8 ....... Jan. 1, 1995 ....... July 1, 1995. borne by debentures issued pursuant to
71⁄4 ....... July 1, 1995 ....... Jan. 1, 1996. section 221(g)(4) during the 6-month
provisions state that the applicable rates 61⁄2 ....... Jan. 1, 1996 ....... July 1, 1996.
of interest will be published twice each 71⁄4 ....... July 1, 1996 ....... Jan. 1, 1997.
period beginning July 1, 2007, is 43⁄4
year as a notice in the Federal Register. 63⁄4 ....... Jan. 1, 1997 ....... July 1, 1997. percent.
Section 224 further provides that the 71⁄8 ....... July 1, 1997 ....... Jan. 1, 1998. HUD expects to publish its next
interest rate on these debentures will be 63⁄8 ....... Jan. 1, 1998 ....... July 1, 1998. notice of change in debenture interest
set from time to time by the Secretary 61⁄8 ....... July 1, 1998 ....... Jan. 1, 1999.
rates in January 2008.
of HUD, with the approval of the 51⁄2 ....... Jan. 1, 1999 ....... July 1, 1999.
Secretary of the Treasury, in an amount 61⁄8 ....... July 1, 1999 ....... Jan. 1, 2000. The subject matter of this notice falls
61⁄2 ....... Jan. 1, 2000 ....... July 1, 2000. within the categorical exemption from
not in excess of the annual interest rate
61⁄2 ....... July 1, 2000 ....... Jan. 1, 2001. HUD’s environmental clearance
determined by the Secretary of the 6 ........... Jan. 1, 2001 ....... July 1, 2001.
Treasury pursuant to a statutory formula procedures set forth in 24 CFR
57⁄8 ....... July 1, 2001 ....... Jan. 1, 2002.
based on the average yield of all 51⁄4 ....... Jan. 1, 2002 ....... July 1, 2002. 50.19(c)(6). For that reason, no
outstanding marketable Treasury 53⁄4 ....... July 1, 2002 ....... Jan. 1, 2003. environmental finding has been
obligations of maturities of 15 or more 5 ........... Jan. 1, 2003 ....... July 1, 2003. prepared for this notice.
years. 41⁄2 ....... July 1, 2003 ....... Jan. 1, 2004.
(Authority: Sections 211, 221, 224,
The Secretary of the Treasury (1) has 51⁄8 ....... Jan. 1, 2004 ....... July 1, 2004.
51⁄2 ....... July 1, 2004 ....... Jan. 1, 2005. National Housing Act, 12 U.S.C. 1715b,
determined, in accordance with the 1715l, 1715o; Section 7(d), Department of
47⁄8 ....... Jan. 1, 2005 ....... July 1, 2005.
provisions of section 224, that the HUD Act, 42 U.S.C. 3535(d).)
41⁄2 ....... July 1, 2005 ....... Jan. 1, 2006.
statutory maximum interest rate for the 47⁄8 ....... Jan. 1, 2006 ....... July 1, 2006.
period beginning July 1, 2007, is 5 Dated: July 26, 2007.
53⁄8 ....... July 1, 2006 ....... Jan. 1, 2007.
percent; and (2) has approved the 43⁄4 ....... Jan. 1, 2007 ....... July 1, 2007. Brian D. Montgomery,
establishment of the debenture interest 5 ........... July 1, 2007 ....... Jan. 1, 2008. Assistant Secretary for Housing—Federal
jlentini on PROD1PC65 with NOTICES
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