Page:United States Statutes at Large Volume 70.djvu/1133

 70 S T A T. ]

PUBLIC LAW 1015-AUG. 7, 1956

1077

(b) of section 2 shall b2 effective only with respect to annuities accruing for months after June 1956 and lump-sum payments (under section 5(f)(1) of the Railroad Retirement Act of 1937) in the case of deaths occurring after June 1956, Section 3 shall be effective only with respect to pensions due in calendar months after July 1956 and annuities accruing for months after June 1956. Approved August 7, 1956.

Public Law 1014

CHAPTER 1023 ^

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August 7, 1956

To amend section 650 of title 14, United States Code, entitled "Coast Guard", relating to the Coast Guard Supply Fund.

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Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section supply Vund."*"* 650 of title 14, United States Code, is amended to read as follows: 63 Stat. sso. "§ 650. Coast Guard Supply F u n d "A Coast Guard Supply Fund is authorized. The Secretary may prescribe regulations for designating the classification of materials to be stocked. In such regulations, whenever the fund is extended to include items not previously stocked, the Secretary may authorize an increase in the existing capital of the fund by the value of such usable materials transferred thereto from Coast Guard inventories carried in other accounts. Except for the materials so transferred, the fund shall be charged with the cost of materials purchased or otherwise acquired. The fund shall be credited with the value of materials consumed, issued for use, sold, or otherwise disposed of, such values to be determined on a basis that will approximately cover the cost thereof." (b) The analysis of chapter 17, title 14, United States Code, is es Stat. 544. amended by striking out "650. Coast Guard supply fund and supply account." and inserting in place thereof the following item: "650. Coast Guard Supply Fund." Approved August 7, 1956. Public Law 1015

CHAPTER 1024 AN ACT

August 7, 1956

To provide that amounts which do not exceed 60 cents shall be exempt from the tax imposed upon amounts paid for the transportation of persons.

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Be it enacted by the Senate and House of Representatives of the United States of Amenca in Congress assembled, That part I of sub- tauon."" ^'^^P'"'chapter C of chapter 33 of the Internal Revenue Code of 1954 (relating f e^us^c \^261 to tax on transportation of persons) is hereby amended by striking 4262. out "The tax imposed by section 4261 shall not apply to amounts paid for transportation which do not exceed 35 cents," and inserting in lieu thereof "The tax imposed by section 4261 shall not apply to amounts paid for transiwrtation which do not exceed 60 cents,". SEC. 2. The amendment made by the first section of this Act shall apply to amounts paid on or after the first day of the first month which begins more than ten days after the date of the enactment of this Act for transportation on or after such first day. Approved August 7, 1956. 1

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