RATE OF INTEREST ON TAX CLAIMS.

SEC. 704. RATE OF INTEREST ON TAX CLAIMS.(a) In General.—Subchapter I of chapter 5 of title 11, United States Code, is amended by adding at the end the following:“§ 511. Rate of interest on tax claims“(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.” .119 STAT. 126(b) Clerical Amendment.—The table of sections for subchapter I of chapter 5 of title 11, United States Code, is amended by adding at the end the following: “511. Rate of interest on tax claims.”.