Search Results for keywords:"Inflation Adjustment Act"

Found 3 results

Search Results: keywords:"Inflation Adjustment Act"

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  • 2024-31057 — Notice on Penalty Inflation Adjustments for Civil Monetary Penalties
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    Type:Notice
    Citation:89 FR 106609
    Reading Time:about a minute or two

    The National Science Foundation (NSF) has announced new maximum amounts for civil monetary penalties, which will start on January 15, 2025. These adjustments are based on the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, and follow a cost-of-living increase set by recent guidance. The penalty for standard violations under the Antarctic Conservation Act has been adjusted to $21,568, while knowing violations will be penalized with up to $36,498. For violations under the Program Fraud Civil Remedies Act, the maximum penalty is now $14,308.

    Simple Explanation

    The National Science Foundation is saying that starting on January 15, 2025, if someone breaks certain rules, the money they have to pay can be a little more because of inflation. For some rules, breaking them can cost up to $21,568, or more, and other types can cost up to $36,498 and $14,308, depending on how bad the rule-breaking is.

  • 2025-00494 — Annual Adjustment of Civil Monetary Penalties To Reflect Inflation
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    Type:Rule
    Citation:90 FR 3710
    Reading Time:about 9 minutes

    The Federal Communications Commission (FCC) has finalized a rule adjusting civil monetary penalties for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These changes aim to keep the penalties effective as deterrents by adjusting them according to inflation. The rule specifies the updated penalty amounts for various violations under the Communications Act, and these changes apply to penalties assessed from January 15, 2025, onwards. The FCC has also corrected a previously removed footnote regarding penalties for misrepresentation or lack of candor.

    Simple Explanation

    The FCC has decided to make fines bigger to keep up with inflation, so companies still think twice when breaking rules. These updated fines start on January 15, 2025.

  • 2021-00925 — Civil Penalty Inflation Adjustments
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    Type:Rule
    Citation:86 FR 3767
    Reading Time:about 9 minutes

    The Bureau of Consumer Financial Protection issued a final rule to adjust civil penalties for inflation, as mandated by several federal acts. These adjustments are meant to maintain the effectiveness of penalties in promoting compliance with the law. The changes are technical and non-discretionary, following a statutory method, and they apply to penalties assessed from January 15, 2021, for violations occurring on or after November 2, 2015. The rule does not require a public comment process due to its technical nature.

    Simple Explanation

    The government is changing how much people have to pay when they break certain rules to make sure the amounts stay fair over time. They're doing this because prices and money change over the years, just like how candy costs more now than it did a long time ago.