Search Results for keywords:"inflation adjustment"

The U.S. Department of Transportation (DOT) has issued a final rule to revise civil penalty amounts for violations of various transportation regulations, effective December 30, 2024. These adjustments are required by the Federal Civil Penalties Inflation Adjustment Act and are meant to ensure that penalties maintain their deterrent effect by accounting for inflation. The rule covers a wide array of areas including aviation, hazardous materials, and vehicle safety, among others. The adjustments apply prospectively, meaning they will only affect violations occurring after the rule takes effect.

The Farm Credit System Insurance Corporation (FCSIC) has issued a final rule addressing adjustments to civil money penalties (CMPs), in compliance with the 2015 amendments to the Federal Civil Penalties Inflation Adjustment Act of 1990. These adjustments ensure that penalties remain effective as a deterrent by accounting for inflation, with new amounts applying from January 15, 2025, for any conduct from November 2, 2015, onward. The updated penalty for violations under section 5.65(c) or (d) of the Farm Credit Act is $264 per day. This rule bypasses standard procedure for public comment due to statutory requirements.

The Copyright Royalty Judges are proposing new regulations for the digital performance of sound recordings and making transient copies by new subscription services for the years 2026 to 2030. These regulations will determine how royalty rates are calculated for music services provided as part of TV packages, like cable or satellite, with a key change being the annual adjustment of fees based on inflation. Interested parties can comment or object to these proposed rules by January 21, 2025. Additionally, the changes incorporate the existing framework but include some updates, such as using proxy data to distribute royalties when licensees fail to report use data.

The Department of State issued a final rule to adjust civil monetary penalties (CMP) across several regulatory areas, including fraud, chemical weapons, arms control, and lobbying. The adjustments align with annual inflation guidelines set by the Office of Management and Budget based on a December 2024 cost-of-living adjustment multiplier. These new penalty amounts will apply to violations occurring on or after the rule's effective date, January 10, 2025. The rule ensures penalties keep up with inflation, following mandates from recent legislation and guidelines.

The Social Security Administration has announced new inflation-adjusted maximum penalties for civil monetary violations, effective from January 15, 2021, to January 14, 2022. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. For example, the penalty for fraud facilitators in a position of trust has increased to $8,212, and the penalty for a violative broadcast has increased to $54,157. These updates ensure penalties align with inflation and are applied fairly each year.

The Department of Defense has issued a final rule to adjust its civil monetary penalties (CMPs) for inflation. This adjustment is mandated by laws such as the Federal Civil Penalties Inflation Adjustment Act, which requires that penalties be increased annually to reflect changes in the consumer price index since 2015. The rule, effective January 15, 2025, applies to penalties assessed after the effective date but does not carry significant costs or impact small entities or governments. It ensures the penalties remain a deterrent and that the Department follows statutory requirements without needing public notice or comments.

The Department of Transportation has announced an increase in the rail passenger transportation liability cap. This adjustment is mandated by the Fixing America's Surface Transportation (FAST) Act and raises the cap from $294,278,983 to $322,864,228 to account for inflation. The new cap ensures that the total compensation for all claims from a single accident, including punitive damages, reflects current dollar value. This change will be effective 30 days after February 25, 2021.

The Department of Health and Human Services (HHS) has updated the poverty guidelines to reflect a 2.9% price increase between 2023 and 2024, measured by the Consumer Price Index. These guidelines help determine eligibility for programs like Medicaid. Each year, HHS adjusts the guidelines based on inflation and ensures that the figures align with Census Bureau estimates. The guidelines are used by various federal and non-federal programs, and specific terms like "income" and "family" are defined by the regulations of each program.

The Securities and Exchange Commission (SEC) announced that The Nasdaq Stock Market LLC has filed a proposed rule change to increase the fees for their Specialized Quote Feed (SQF) Ports and SQF Purge Ports by 10%. These ports are used by Market Makers to send quotes to the exchange, and the increase aims to adjust for inflation and maintain the quality and security of the exchange's technology. Nasdaq cites investments in technology upgrades as a reason for the fee increase, which intends to better align pricing with improvements in service quality. The new fees will be effective from January 1, 2025, and the SEC is seeking public comments on this proposed rule change.

The Federal Election Commission (FEC) has announced changes to some political contribution and spending limits due to inflation, as required by the Federal Election Campaign Act. These updates affect various election-related limits, including those for party committee expenditures in elections and contributions made by individuals to candidates and political parties. The FEC also adjusted the threshold for reporting contributions bundled by lobbyists. These changes are meant to reflect cost-of-living adjustments over time and are effective for the 2021-2022 election cycle.