Page:United States Statutes at Large Volume 70.djvu/373

 70

STAT.]

PUBLIC LAW 604-JUNE 20, 1956

317

MARITIME ACTIVITIES

Ship construction: For payment of construction-differential subsidy and cost of national-defense features incident to construction of 49 ships for operation in foreign commerce (46 U.S.C. 1152, 1154), and 1998. Stat. 19913, the cost of national-defense features incident to construction of vessels for domestic operation (46 U.S.C. 1159); for payment of construc- 49 Stat. 2000. tion-differential subsidy and cost of national-defense features incident to the reconstruction and reconditioning of ships under title V of the Merchant Marine Act, 1936, as amended (46 U.S.C. 1154); for reconditioning and betterment of one ship in the national-defense reserve fleet; for acquisition of used ships pursuant to section 510 of the Merchant Marine Act, 1936, as amended (46 U.S.C. 1160), and the pay- 53 Stat. 1183. ment of cost of national-defense features incorporated in new tankers constructed to replace used tankers; and for research, development, and design expenses incident to new and advanced ship design, machinery, and equipment; $82,700,000, to remain available until expended: Provided, That transfers may be made to the appropriation for the current fiscal year for "Salaries and expenses" for administrative and warehouse expenses (not to exceed $1,115,000) and for reserve fleet expenses (not to exceed $500,000), and any such transfers shall be without regard to the limitations under that appropriation on the amounts available for such expenses: Provided further, That appropriations granted herein shall be available to pay construction-differential subsidy granted by the Federal Maritime Board, pursuant to section 501(c) of the Merchant Marine Act, 1936, as amended, to aid 49 Stat. 1995. in the reconstruction of any Mariner-class ships sold under the pro- 46 USC 1151. visions of title VII of the 1936 Act: Provided further, That all ship 49 Stat. 2008. +6 construction, reconditioning, and betterment of vessels appropriated 1204. u s e 1 1 9 1 for herein, shall be performed in shipyards in the continental United States: Provided further, That no funds contained in this Act may be used to commence construction, reconstruction, conversion, reconditioning, or betterment of any vessel until the total Federal funds required to complete such work have been appropriated. Operating-differential subsidies: For the payment of obligations incurred for operating-differential subsidies granted on or after JanStat. uary 1, 1947, as authorized by the Merchant Marine Act, 1936, as 49 USC 1985. 46 ch. 27. amended, and in appropriations heretofore made to the United States Maritime Commission, $124,000,000, to remain available until expended: Provided, That to the extent that the operating-differential subsidy accrual (computed on the basis of parity^ is represented on the operator's books by a contingent accounts receivable item against the United States as a partial or complete offset to the recapture accrual, the operator (1) shall be excused from making deposits in the special reserve fund, and (2) as to the amount of such earnings the deposit of which is so excused shall be entitled to the same tax treatment as though it had been deposited in said special reserve fund. To the extent that any amount paid to the operator by the United States reduces the balance in the operator's contingent receivable account against the United States, such amount shall forthwith be deposited in the special reserve fund of the operator: Provided fy/rther, That no contracts shall be executed during the current fiscal year by the Federal Maritime Board which will obligate the Government to pay operating differential subsidy on more than two thousand and forty voyages in any one calendar ^ear, including voyages covered by contracts in effect at the beginning of the current fiscal year. Salaries and expenses: For expenses necessary for carrying into 49 1985. effect the Merchant Marine Act, 1936, and other laws administered 46 Stat. ch. 27. use

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