Page:United States Statutes at Large Volume 61 Part 1.djvu/945

 61 STAT.] 80TH CONG., 1ST SESS.-CHS. 516-518 -AUG. 8, 1947 native individuals, or other persons, and which have not been con- firmed by patent or court decision or included within any reservation. SEC. 2. (a) The Secretary of Agriculture, in contracts for the sale, or in the sale, of national forest timber under the provisions of the Act of June 4, 1897 (30 Stat. 11, 35), as amended, is authorized to include timber growing on any vacant, unappropriated, and unpat- ented lands within the exterior boundaries of the Tongass National Forest in Alaska, notwithstanding any claim of possessory rights. All such contracts and sales heretofore made are hereby validated. (b) The Secretary of the Interior is authorized to appraise and sell such vacant, unappropriated, and unpatented lands, notwithstanding any claim of possessory rights, within the exterior boundaries of the Tongass National Forest as, in the opinion of the Secretary of the Interior and the Secretary of Agriculture, are reasonably necessary in connection with or for the processing of timber from lands within such national forest, and upon such terms and conditions as they may impose. (c) The purchaser shall have and exercise his rights under any patent issued or contract to sell or sale made under this section free and clear of all claims based upon possessory rights. SEC. 3. (a) All receipts from the sale of timber or from the sale of lands under section 2 of this resolution shall be maintained in a special account in the Treasury until the rights to the land and timber are finally determined. (b) Nothing in this resolution shall be construed as recognizing or denying the validity of any claims of possessory rights to lands or timber within the exterior boundaries of the Tongass National Forest. Approved August 8, 1947. [CHAPTER 517] JOINT RESOLUTION To authorize the temporary continuation of regulation of consumer credit. Resolved by the Senate and House of Representatives of the United States of America in Congressassembled, That after November 1, 1947, the Board of Governors of the Federal Reserve System shall not exer- cise consumer credit controls pursuant to Executive Order Numbered 8843, and no such consumer credit controls shall be exorcised after such date except during the time of war beginning after the date of enactment of this joint resolution or any national emergency declared by the President after the date of enactment of this joint resolution. Approved August 8, 1947. [CHAPTER 518] AN ACT To amend sections 1802 (a), 1802 (b), and 3481 (a) of the Internal Revenue Code. Be it enacted by the Senate and House of Representatives of the United States of Americain Congress assembled, That section 1802 (a) of the Internal Revenue Code is amended by deleting the period at the end of the next to the last sentence and inserting in lieu thereof the following: ": Provided further, That where such certificates (or shares, where no certificates are issued) are issued in a recapitalization, the tax payable shall be that proportion of the tax computed on such certificates or shares issued in the recapitalization that the amount dedicated as capital for the first time by the recapitalization, whether 921 Timber on vacant lands, etc. Sale of unpatented lands, etc. Purchaser's rights. Receipts. Validity of claims. August 8, 1947 [S. J. Res. 1481 (Public Law 386] 10U.8.C.app.I5 note. August 8, 1947 [H. R. 3613] [Public Law 367] 53 Stat. 196. 26U.S.C. § SI02(a). Certificates or shares issued in recapitaliza- tion.

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