Page:United States Statutes at Large Volume 60 Part 1.djvu/698

 60 STAT.] 79TH CONG., 2D SESS. - CH. 671-JULY 25, 1946 SEC. 5. Section 2 (b) of the Emergency Price Control Act of 1942, as amended, is amended by adding at the end thereof the following new paragraphs: "After the date upon which this paragraph takes effect, the Admin- istrator, when establishing rent ceilings on hotels or when passing upon applications for adjustments of rent ceilings on hotels, is author- ized to take into consideration the distinction between transient hotels and residential or apartment hotels, including the difference in the investment, operation, expenses, and mechanical details of operation between the transient hotels and the residential and apartment hotels, and is directed to classify separately by regulation (1) transient hotels, (2) residential and apartment hotels, and (3) tourists courts, rooming houses, and boarding houses. "While maximum rents are in effect under this Act with respect to housing accommodations in any defense-rental area, such housing accommodations shall not be subject to rent control by any State or local government." SEC. 6. (a) The last paragraph of section 2 (e) of the Emergency Price Control Act of 1942, as amended by the Stabilization Exten- sion Act of 1944, shall not apply with respect to operations for the fiscal year ending June 30, 1947, of the Commodity Credit Corpora- tion and the Reconstruction Finance Corporation: Provided, That with respect to such corporations and such operations, the making of subsidy payments and buying for resale at a loss shall be limited as follows: Payments and purchases may be made with respect to operations for the fiscal year ending June 30, 1947, which involve subsidies and anticipated losses as follows: (1) With respect to rubber produced in Latin America and Africa for which commitments were made before January 1, 1946, $31,000,000. (2) With respect to copper, lead, and zinc, in the form of premium price payments, $100,000,000: Provided, That (A) pre- miums shall be paid on ores mined or removed from mine dumps or tailing piles before July 1, 1947, though shipped and/or processed and marketed subsequently thereto; and that (B) the premium price plan for copper, lead, and zinc shall be extended until June 30, 1947, on terms not less favorable to the producer than heretofore and (i) adjustments shall be made to encourage exploration and development work, (ii) adequate allowances shall be made for depreciation and depletion, and (iii) all classes of premiums shall be noncancelable unless necessary in order to make individual adjustments of income to specific mines. (3) With respect to purchases by the Reconstruction Finance Corporation, of such tin ores and concentrates as it deems necessary to insure continued operation of the Texas City tin smelter. (4) With respect to noncrop programs, 1946 crop program operations and the 1947 crop program operations relating to sugar, flour, petroleum, petroleum products, and other domestic and imported materials and commodities, $869,000,000: Provided, That the operations authorized under this subparagraph (4) shall be progressively reduced, shall be terminated not later than April 1, 1947, and shall not cost more than $629 000,000 during the last six months of the calendar year 1946. Operations shall not be carried out under authority of this subparagraph (4) with respect to any commodity for any period occurring after the date of the enactment of this Act during which maximum prices on such 671 56 Stat. 25 . 50 U. S. C., Supp. V, app. 1902 (b). Rent ceilings on hotels. Defense-rental areas. Operations of OCO and RFC. 58 Stat. 635. 50 U. S. C., Supp. V, app. § 902 (e). Ante, pp. 57, 214. Subsidy payments, etc., limitations. Rubber. Copper, lead, zinc. Premiums. Adustments. Tin ores. Sugar, flour, petro- leum, etc. Reduction, etc., of operations.

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