Page:United States Statutes at Large Volume 123.djvu/2035

 123STA T . 2 0 1 5PUBLIC LA W 111 –67— S E PT. 30 , 200 9‘ ‘ (B)AG G RE G AT EA MOUN T S.—Ifthe t akingo fan y a c tion u n d e r thi s su b section to correct a do m estic industria l base shortfall w ould cause the aggregate outstanding amount of all such actions for such shortfall to e x ceed $50, 000,000, the action or actions may be taken only after the 3 0 - day p eriod following the date on which the C ommittee on Banking, H ousing, and U rban Affairs of the S enate and the Committee on F inancial Ser v ices of the House of R epresentatives have been notified in writing of the proposed action. ‘‘( 7 ) W A IV ERS AUT H ORI Z E D .— T he re q uirements of para- graphs ( 1 ) through ( 6 ) may be waived— ‘‘(A) during a period of national emergency declared by the Congress or the P resident or ‘‘(B) upon a determination by the President, on a non- delegable basis, that action is necessary to avert an indus- trial resource or critical technology item shortfall that would severely impair national defense capability. ‘‘(b) EX EM P TION F OR CERTAIN L IMITATIONS.—Sub j ect to the limitations in subsection (a), purchases and commitments to pur- chase and sales under subsection (a) may be made without regard to the limitations of existing law (other than section 13 4 1 of title 31, United States Code), for such quantities, and on such terms and conditions, including advance payments, and for such periods, but not extending beyond a date that is not more than 10 years from the date on which such purchase, purchase commitment, or sale was initially made, as the President deems necessary, except that purchases or commitments to purchase involving higher than established ceiling prices (or if no such established ceiling prices exist, currently prevailing market prices) or anticipated loss on resale shall not be made, unless it is determined that supply of the materials could not be effectively increased at lower prices or on terms more favorable to the G overnment, or that such pur- chases are necessary to assure the availability to the United States of overseas supplies. ‘‘(c) PRESIDENTIA L FINDINGS.— ‘‘(1) IN GENERAL.—The President may take the actions described in paragraph ( 2 ), if the President finds that— ‘‘(A) under generally fair and equitable ceiling prices, for any raw or nonprocessed material, there will result a decrease in supplies from high-cost sources of such mate- rial, and that the continuation of such supplies is necessary to carry out the objectives of this title; or ‘‘(B) an increase in cost of transportation is temporary in character and threatens to impair maximum production or supply in any area at stable prices of any materials. ‘‘(2) SU B SID Y PAYMENTS AUTHORIZED.—Upon a finding under paragraph (1), the President may make provision for subsidy payments on any such domestically produced material, other than an agricultural commodity, in such amounts and in such manner (including purchases of such material and its resale at a loss), and on such terms and conditions, as the President determines to be necessary to ensure that sup- plies from such high-cost sources are continued, or that max- imum production or supply in such area at stable prices of such materials is maintained, as the case may be.