Notice2023-28508
Civil Monetary Penalty Inflation Adjustment
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 27, 2023
Issuing agencies
Railroad Retirement Board
Abstract
As required by Section 701 of the Bipartisan Budget Act of 2015, entitled the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, the Railroad Retirement Board (Board) hereby publishes its 2024 annual adjustment of civil penalties for inflation.
Full Text
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<title>Federal Register, Volume 88 Issue 247 (Wednesday, December 27, 2023)</title>
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[Federal Register Volume 88, Number 247 (Wednesday, December 27, 2023)]
[Notices]
[Pages 89480-89481]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-28508]
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RAILROAD RETIREMENT BOARD
Civil Monetary Penalty Inflation Adjustment
AGENCY: Railroad Retirement Board.
ACTION: Notice announcing updated penalty inflation adjustments for
civil monetary penalties for 2024.
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SUMMARY: As required by Section 701 of the Bipartisan Budget Act of
2015, entitled the Federal Civil Penalties Inflation Adjustment Act
Improvements Act of 2015, the Railroad Retirement Board (Board) hereby
publishes its 2024 annual adjustment of civil penalties for inflation.
FOR FURTHER INFORMATION CONTACT: Peter J. Orlowicz, Senior Counsel,
Railroad Retirement Board, 844 North Rush Street, Chicago, IL 60611-
1275, (312) 751-4922, TTD (312) 751-4701.
SUPPLEMENTARY INFORMATION: Section 701 of the Bipartisan Budget Act of
[[Page 89481]]
2015, Public Law 114-74 (Nov. 2, 2015), entitled the Federal Civil
Penalties Inflation Adjustment Act Improvements Act of 2015 (the 2015
Act), amended the Federal Civil Penalties Inflation Adjustment Act of
1990 (28 U.S.C. 2461 note) (Inflation Adjustment Act) to require
agencies to publish regulations adjusting the amount of civil monetary
penalties provided by law within the jurisdiction of the agency not
later than January 15th of every year.
For the 2024 annual adjustment for inflation of the maximum civil
penalty under the Program Fraud Civil Remedies Act of 1986, the Board
applies the formula provided by the 2015 Act and the Board's
regulations at Title 20, Code of Federal Regulations, Part 356. In
accordance with the 2015 Act, the amount of the adjustment is based on
the percent increase between the Consumer Price Index (CPI-U) for the
month of October preceding the date of the adjustment and the CPI-U for
the October one year prior to the October immediately preceding the
date of the adjustment. If there is no increase, there is no adjustment
of civil penalties. The percent increase between the CPI-U for October
2023 and October 2024, as provided by Office of Management and Budget
Memorandum M-24-07 (December 19, 2023), is 1.03241 percent. Therefore,
the new maximum penalty under the Program Fraud Civil Remedies Act is
$13,946 (the 2023 maximum penalty of $13,508 multiplied by 1.03241,
rounded to the nearest dollar). The new minimum penalty under the False
Claims Act is $13,946 (the 2023 minimum penalty of $13,508 multiplied
by 1.03241, rounded to the nearest dollar), and the new maximum penalty
is $27,894 (the 2023 maximum penalty of $27,018 multiplied by 1.03241,
rounded to the nearest dollar). The adjustments in penalties will be
effective December 27, 2023.
Dated: December 21, 2023.
By Authority of the Board.
Stephanie Hillyard,
Secretary to the Board.
[FR Doc. 2023-28508 Filed 12-26-23; 8:45 am]
BILLING CODE P
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</html>Indexed from Federal Register on December 27, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.