Page:United States Statutes at Large Volume 106 Part 4.djvu/195

 PUBLIC LAW 102-486—OCT. 24, 1992 106 STAT. 2931 "(v) The priority of their claims on the Corporation's net revenues with respect to principal and interest payments. "(vi) Any other terms and conditions. "(B) INAPPLICABILITY OF RIGHT TO PRESCRIBE TERMS. — Section 9108(a) of title 31, United States Code, shall not apply to the Corporation. "(d) INAPPUCABILITY OF SECURITIES REQUIREMENTS. —The Corporation shall be considered an executive department of the United tates for purposes of section 3(c) of the Securities Exchange Act ofl934(15 U.S.C. 78c(c)). " (e) INAPPLICABILITY OF FFB.— The Corporation shall not issue or sell any bonds to the Federal Financing Bank. 'nSEC. 1310. EXEMPTION FROM TAXATION AND PAYMENTS IN LIEU OF TAXES. "(a) EXEMPTION FROM TAXATION.— In order to render financial assistance to those States and localities in which the facilities of the Corporation are located, the Corporation shall, beginning in fiscal year 1998, make pa3anents to State and local governments as provided in this section. These payments shall be in lieu of any and all State and local taxes on the real and personal property of the Corporation. All property of the Corporation is expressly exempted from taxation in any manner or form by any State, county, or other local government entity including State, county, or other local government sales tax. "(b) PAYMENTS IN LIEU OF TAXES.—Beginning in fiscal year 1998, the Corporation shall make annual payments, in amounts determined by the Corporation to be fair and reasonable, to the State and local governmental agencies having tax jurisdiction in any area where facilities of the Corporation are located. In making these determinations, the Corporation shall be guided by the following criteria: "(1) The Corporation shall take into account the customs and practices prevailing in the area with respect to appraisal, assessment, and classification of industrial property and any special considerations extended to large-scale industrial operations. "(2) The payment made to any taxing authority for any period shall not be less than the payments that would have been made to the taxing authority for the same period by the Department and its cost-type contractors on behalf of the Department with respect to property that has been transferred to the Corporation under section 1404 and that would have been attributable to the ownership, management, operation, and maintenance of the Department's uranium enrichment facilities, applying the laws and policies prevailing immediately prior to the transition date. "(c) TIME OF PAYMENTS.—Payments shall be made by the Corporation at the time when payments of taxes by taxpayers to each taxing authority are due and payable. "(d) DETERMINATION OF AMOUNT DUE.— The determination by the Corporation of the amounts due under this section shall be final and conclusive. 'SEC. 1311. COOPERATION WITH OTHER AGENCIES. 'The Corporation may request to use on a reimbursable basis the available services, equipment, personnel, and facilities of agen- 42 USC 2297b-9. 42 USC 2297b-10.

�