Page:United States Statutes at Large Volume 62 Part 1.djvu/240

 PUBLIC LAWS-CHS. 256, 257-MAY 4, 1948 Settlement of claims. Appropriation au- thorized. Repeal. 46U.S. C. §732and note. 34U. S. C. §472. Repeal. May 4, 1948 [H. R. 5448] [Public Law 514] 53 Stat. 76. 26U. S. C. §212(b). to any private party, such party shall first execute an agreement with the Department of the Navy (1) under which such vessel or gear will be employed, for such period of years as the Secretary of the Navy shall deem appropriate, to support organized offshore salvage facili- ties, and (2) which shall contain such other provisions as the Secre- tary of the Navy shall deem appropriate to assure the fulfillment of such undertaking. SEO. 3 . The Secretary of the Navy and his designees are hereby authorized to consider, ascertain, adjust, determine, compromise, or settle any claim for salvage services rendered by the Navy Department to any vessel, and moneys received as a result of the exercise of author- ity contained in this Act shall be credited to appropriations made for the Navy Department and the naval service for the purpose of main- taining salvage facilities by the Navy for the purposes prescribed by this Act: Provided, That if the total moneys received annually by the Navy pursuant to authority contained in this Act shall exceed the total annual costs incurred by the Navy in rendering and maintaining salvage service as authorized in this Act, the amount of such excess shall be covered into the Treasury as "miscellaneous receipts". SEC. 4. There is hereby authorized to be appropriated, out of any money in the Treasury not otherwise appropriated, such funds, not in excess of $3,000,000 annually, as may be necessary to effectuate the purposes of this Act. SEC. 5. (a) The Act entitled "An Act to authorize the Secretary of the Navy to provide salvage facilities, and for other purposes", approved October 24, 1941 (55 Stat. 745), as amended by the Act of February 10, 1942 (56 Stat. 86), is hereby repealed. (b) That portion of the Act of July 1, 1918, which is the last full paragraph appearing on page 705, volume 40, Statutes at Large, and which reads as follows: "That hereafter the Secretary of the Navy is authorized to cause vessels under his control adapted to the purpose, to afford salvage service to public or private vessels in distress: Pro- vided, That when such salvage service is rendered by a vessel specially equipped for the purpose or by a tug, the Secretary of the Navy may determine and collect reasonable compensation therefor.", is hereby repealed. Approved May 4, 1948. [CHAPTER 257] AN ACT To amend sections 212 (b) and 231 (d) of the Internal Revenue Code. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section 212 (b) of the Internal Revenue Code (relating to income of non- resident alien individuals) is hereby amended to read as follows: "(b) EXCLUSIONs. -T he following items shall not be included in gross income of a nonresident alien individual and shall be exempt from taxation under this chapter: "(1) SHIPS UNDER FOREIGN FLAG.- Earnings derived from the operation of a ship or ships documented under the laws of a for- eign country which grants an equivalent exemption to citizens of the United States and to corporations organized in the United States; "(2) AIRCRAFT OF FOREIGN IraISTRY.--Earnings derived from the operation of aircraft registered under the laws of a foreign country which grants an equivalent exemption to citizens of the United States and to corporations organized in the United States." 210 [62 STAT.

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