Page:United States Statutes at Large Volume 65.djvu/168

 134

PUBLIC LAW 96—JULY 31, 1951

[65 STAT.

he 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 without regard to the limitations of existing law), and on such terms and conditions, as he determines to be necessary to insure that supplies from such high-cost sources are continued, or that maximum production or supply in such area at stable prices of such materials is maintained, as the case may be. Procurement power. " (d) The procurement power granted to the President by this section shall include the power to transport and store and have processed and refined, any materials procured under this section. Installation of addi"(e) When in his judgment it will aid the national defense, the tional equipment, etc. President is authorized to install additional equipment, facilities, processes or improvements to plants, factories, and other industrial facilities owned by the United States Government, and to install government-owned equipment in plants, factories, and other industrial facilities owned by private persons." (b) Subsection (b) of section 304 of the Defense Production Act of 60 U.S.C. app. 1950 is amended by striking out the proviso in the first sentence and !20«4. inserting in lieu thereof the following: Provided, That the amount borrowed under the provisions of this section by all such borrowers shall not exceed an aggregate of $2,100,000,000 outstanding at any one time: Provided further, That when any contract, agreement, loan, or other transaction heretofore or hereafter entered into pursuant to sec60 U.S.C. app. tion 302 or 303 imposes contingent liability upon the United States, §§ 2092, 2093. such liability shall be considered for the purposes of sections 3679 31 U. 8. C. §665; 41 and 3732 of the Revised Statutes, as amended, as an obligation only to U.S.C. §11. the extent of the probable ultimate net cost to the United States under Report to Congress, such transaction; and the President shall submit a report to the Congress not less often than once each quarter setting forth the gross amount of each such transaction entered into by any agency oi the United States Government under this authority and the basis for determining the probable ultimate net cost to the United States thereunder." (c) Section 304 of the Defense Production Act of 1950 is further amended by striking out subsection (c). PRICE A N D WAGE STABILIZATION

SEC. 104. (a) The second sentence of paragraph (3) of subsection 50 U.S.C. app. (d) of section 402 of the Defense Production Act of 1950 is amended i 2102. by striking out the period at the end thereof and inserting in lieu thereof the following: "; and equitable treatment shall be accorded to all such processors." (b) Paragraph (3) of subsection (d) of section 402 of the Defense Production Act of 1950 is amended by inserting after the third sentence thereof the following new sentence: "No ceiling shall be established or maintained for any agricultural commodity below 90 per centum of the price received (by grade) by producers on May 19, 1951, as determined by the Secretary of Agriculture." (c) The fourth sentence of paragraph (3) of subsection (d) of section 402 of the Defense Production Act of 1950 is amended to read as follows: "Nothing contained in this Act shall be construed to modify, repeal, supersede, or affect the provisions of either (1) the Agricultural Act of 1949, or (2) the Agricultural Marketing Agree63 Stat. 1061; 50 Stat.ment Act of 1937, as amended, or to invalidate any marketing agree246. 7 U.S.C. §§ 1421 ment, license, or order, or any provision thereof or amendment thereto, note, 674. heretofore or hereafter made or issued under the provisions of the Agricultural Marketing Agreement Act of 1937, as amended."

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