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PUBLIC LAW 217-AUG. 3, 1955

[69 S T A T,

the amounts received or accrued by a contractor or subcontractor after December 31, 1953. SEC. 4. (a) Section 106(a) of such Act (50 U.S.C. App., sec. 1216 (a)) is hereby amended— (1) by striking out the period at the end of paragraph (8) and inserting in lieu thereof "; or"; and (2) by adding at the end thereof a new paragraph as follows: "(9) any contract, awarded as a result of competitive bidding, for the construction of any building, structure, improvement, or facility, other than a contract for the construction of housing financed with a mortgage or mortgages insured under the pro63 Stat. 570. visions of title VIII of the National Housing Act, as now or here12 USC 1748 et after amended." (b) The amendments made by subsection (a) shall apply only to contracts with the Departments made after December 31, 1954. SEC. 5. (a) Section 106(c)(2) of such Act (50 U.S.C. App., sec. 1216 (c)(2)) is hereby amended to read as follows: •'(2) DEFINITIONS.—For the purpose of this subsection, the term 'durable productive equipment' means machinery, tools, or other productive equipment, which has an average useful life of more than five years." (b) The amendment made by subsection (a) shall apply only with 65 Stat 10. respect to fiscal years (as defined in section 103(h) of the Renegotia5 0 USC apP1213. tion Act of 1951) ending on or after June 30, 1953. Joint eommittee SEC. 6. (a) The Joint Committee on Internal Revenue Taxation, o n Internal Revenue Taxation. or any duly authorized subcommittee thereof, is hereby authorized study. and directed to make a complete study in order to determine— (1) whether there is any necessity of extending the Renegotiation Act of 1951 beyond December 31, 1956; and (2) if any such further extension is found necessary, the extent to which renegotiation of Government contracts should apply after such date. Report. (b) The Joint Committee shall, not later than May 31, 1956, report to the Senate and the House of Representatives the results of the study conducted pursuant to this section, together with such recommendations as it deems necessary or desirable. (c) For the purpose of making the study and report required by this section, the Joint Committee, and the Chief of Staff of the Joint Committee, may exercise any of the powers conferred upon the Joint Committee and the Chief of Staff of the Joint Committee by sections 6 8 A Stat. 9 2 7, 8021 and 8023 of the Internal Revenue Code of 1954. The provisions 928. 26 USC 8021, of section 8023(b) of such Code shall apply to requests made under the authority of this subsection to the same extent as in the case of 8023. other requests made under the authority of section 8023(a) of such Code. Approved August 3, 1955. Public Law 217 August 3, 1955 [H. R. 6980]

Old Colony project, Boston, Mass. Conveyance.

CHAPTER 500

^ N ACT Providing for the conveyance of the Old Colony project to the Boston Housing Authority.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That, notwithstanding the provisions of any other law, the Housing and Home Finance Administrator is authorized and directed to sell and convey all right, title, and interest of the United States (including any off-site

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