Page:United States Statutes at Large Volume 70.djvu/66

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Report, Appropriation.

Restriction-

PUBLIC LAW 4 0 2 - F E B. 2, 1956

Small B u s i n e s s. 67 Stat. 233. 15 USC 633, Revolving fund.

Disaster loans. 69 Stat. 549. 15 USC 636,

ST AT,

in the making of such survey, and shall be compensated for any work performed pursuant to this section out of such funds as may hereafter be appropriated for use by the International Joint Commission in carrying out this joint resolution. SEC. 4. The Secretary of State shall report the results of such survey to the Congress of the United States. SEC. 5. There is authorized to be appropriated not to exceed $3,000,000 to carry out this joint resolution, and any sum appropriated pursuant to this section shall be included in any determination of the proportionate share of the cost of construction of the Passamaquoddy tidal power project to be borne by the United States. SEC. 6. Nothing in this joint resolution or the survey authorized herein shall in any way commit the Congress or the Government of the United States as to future action on construction of any such project. Approved January 31, 1956.

Public Law 402 February 2, 1956 [H. R. 7871]

[70

CHAPTER 29

AN ACT To amend the Small Business Act of 1953.

Be it enacted by the Senate and House of RefresentativeH of the Vnited States of America in Congress ansembled^ That subsection (b) of section 204 of the Small Business Act of 1953, as amended, is hereby amended to read as follows: "(b) The Administration is authorized to obtain money from the Treasury of the United States for nse in the performance of the powers and duties granted to or imposed upon it by law, not to exceed a total of $375,000,000 outstanding at any one time. For this purpose appropriations not to exceed $375,000,000 are hereby authorized to be made to a revolving fund in the Treasury. Advances shall be made to the Administration from the revolving fund when requested by the Administration. This revolving fund shall be used for the purposes enumerated subsequently in section 207(a), (b)(1), (b)(2), and (b)(3). Not to exceed an aggregate of $150,000,000 shall be outstanding at any one time for the purposes enumerated in section 207 (a). Xot to exceed an aggregate of $125,000,000 shall be outstanding at any one time for the purposes enumerated in section 207(b)(1). Xot to exceed an aggregate of $100,000,000 shall be outstanding at any one time for the purposes enumerated in section 207(b)(2) and (b) (3). The Administration shall pay into miscellaneous receipts of the Treasury at the close of each fiscal year, interest on the net amount of the cash disbursements from such advances at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding interest-bearing marketable public debt obligations of the United States of comparable maturities.'' SEC. 2. The proviso in paragraph (1) of subsection (b) of section 207 of the Small Business Act of 1953, as amended, is hereby amended to read as follows: '"Fvovided, That no such loan including renewals and extensions thereof may be made for a period or periods exceeding twenty years: And provided fiu'thei\ That the interest rate cm the Administration's share of loans made under this paragraph shall not exceed 3 per centum per annum;'". SEC. 3. (a) Subsection (b) of section 207 of the Small Business Act of 1953, as amended, is hereby further amended (1) by striking the word "and" which follows the semicolon at the end of paragraph (3);

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