Page:United States Statutes at Large Volume 60 Part 1.djvu/699

 PUBLIC LAWS-CH. 671-JULY 25, 1946 Stat. '2,765. commodity are not in effect under the Emergency Price Control ppt.jI 901-922,923- Act of 1942, as amended, or the Stabilization Act of 1942, as Ante, pp. 57, 214, amended: Provided, That subsidies with respect to petroleum 64 et eq.; post, p. 673 produced from stripper wells shall be continued at not to exceed Restrictions. the existing rates. No subsidy or purchase and sale operation shall be undertaken under authority of this subparagraph (4) with respect to any commodity unless a subsidy or purchase and sale operation with respect to such commodity was in effect on June 29, 1946; and no such operation shall be undertaken under authority of this subparagraph (4) which will increase the rate of subsidy paid or the rate of loss incurred with respect to any commodity above that which would be paid or incurred if the operations in effect on June 29, 1946, had been continued on the same basis. Increase of maxi- (b) When any direct or indirect subsidy to an industry is reduced mum price when sub- a sidy is reduced, etc. or terminated, or upon recontrol is not restored or is restored only in part, any maximum price applicable to the product affected shal be correspondingly increased, except in the case of transportation sub- sidies, differential subsidies to high-cost producers, and premium Ante, p. 207. payments under authority of the Veterans' Emergency Housing Act of 1946. Roll-back subsidies. (c) Where roll-back subsidies have previously been or presently are in effect, and have been discontinued, or shall hereafter be dis- continued, the industries which have received such subsidies shall be permitted to increase their ceiling prices at least an amount equiva- lent to the amount of the discontinued roll-back subsidy. Such price increase shall become effective either upon discontinuance of the roll-back subsidy or upon passage of this Act, whichever date is the Defnitin. later. For the purposes of this paragraph, the term "roll-back sub- sidies" means subsidy payments, or purchases and sales of a com- modity at a loss by the Government of the United States (including .any Government-owned or controlled corporation), or contracts there- for, which resulted directly or indirectly in the lowering of ceiling prices below the maximum price levels established by the Office of Price Administration prior to the institution of the subsidy payments or purchases and sales at a loss, or the execution of the contracts therefor, whichever date is the earlier. Designated lrwsnot (d) Nothing in this section shall be construed to affect the pro- affected. .59 sta. 5, 2;0, 5i0; visions of Public Laws 30, 88, 164, and 328 of the Seventy-ninth Con- "7'i;p.5. lc spp. v, gress, or to prevent the use of the sums authorized in such laws to . I:8pnot: I5.i. . C., fulfill obligations incurred prior to July 1, 1946, with respect to opera- Wib note. tions prior to such date. ('Crop ~a ~n 0r)a opN Cratiols ith resTp)c (e) Notwithstanding any of the foregoing provisions of this section to sugar. 6, 1946 and 1947 crop program operations with respect to sugar, may, while maximum prices are in effect with respect to sugar, be continued until such crops are processed and distributed, and the cost of 1946 crop program operations with respect to sugar may be charged to the 59 Stat. 50; ante, funds authorized by Public Law 30, Seventy-ninth Congress, as p. 57. 7u. . c., Supp. V, amended by Public Law 328, Seventy-ninth Congress. For the pur- §1381 note; 15 U.S. C. t supp. v, §§713-7 3a-4 . pose of this section 6, no subsidy program operation on sugar shall be Cuban sugar, considered to be a new subsidy: Provided, That Commodity Credit Corporation or any other Government agency shall not absorb any increase in the price paid for Cuban sugar over 3.675 cents per pound, raw basis, f. o. b. Cuba, as being paid for such sugar, in Cuba, on June 30, 1946. veterans' housing. (f) Nothing in this section shall be construed as a limitation upon operations authorized by the Veterans' Emergency Housing Act of p.. 1946; and nothing in this Act or in any other Act shall prohibit the establishment of maximum sales prices or maximum rents for housing accommodations for which materials or facilities are allocated, or 672 [60 STAT.

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