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PUBLIC LAW 86-89-JULY 13, 1959

[73 S T A T.

TITLE IV—GENEEAL PROVISIONS ro "''a^da * '^ °' ^^'^' ^^^' ^^ ^^^^ ^^ ^^^ appropriation contained in this Act, or of prop ag an a. ^^^ funds available for expenditure by any individual, corporation, or agency included in this Act, shall be used for publicity or propaganda purposes designed to support or defeat legislation proposed or pending before Congress. Mi^eriafs^co^ SEC. 402. No part of any appropriation contained in this Act shall ference. be used to Day any expenses incident to or in connection with participation in the International Materials Conference. Short title. This Act may be cited as the "Department of Commerce and Belated Agencies Appropriation Act, 1960^ Approved July 13, 19 1959.

Public Law 86-89 July 13. 1959 [H. R. 7086]

AN ACT To extend the Renegotiation Act of 1951, and for other purposes.

Be it enacted l>y the Senate and House of Representatives United States of America in Congress assembled,

of the

Renegotiation SECTION 1. EXTENSION. Act of 1951 ex*

tension. ' 72 Stat. 1789.

70 Stat. 786.

Section 102(c)(1) of the Kenegotiation Act of 1951, as amended (50 XJ.S.C. App., scc. 1212(c)(1)), is amended by striking out "June 30, 1959" and inserting in. lieu thereof "June 30, 1962". SEC. 2. FIVE-YEAR LOSS CARRYFORWARD. Subsection (in) of section 103 of the Renegotiation Act of 1951, as amended (50 tJ.S.C. App., sec. 1213 (m)), is amended— (1) By striking out the heading and inserting in lieu thereof the following: " (m) RENEGOTIATION Loss CARRYFORWARDS.—". (2) By striking out subparagraph (A) of paragraph (2) and inserting in lieu thereof the following: " (A) The term 'renegotiation loss deduction' means— " (i) for any fiscal year ending on or after December 31, 1956, and before January 1, 1959, the sum of the renegotiation loss carryforwards to such fiscal year from the preceding two fiscal years; and "(ii) for any fiscal year ending after December 31, 1958, the sum of the renegotiation loss carryforwards to such fiscal year from the preceding five fiscal years (excluding any fiscal year ending before December 31, 1956)." (3) By striking out "CARRYFORWARDS.—^A" in paragraph (3) and inserting in lieu thereof the following: "CARRYFORWARDS TO 1956, 1957, AND 1958.—For the purposes of paragraph (2)(A) (4) By adding at the end of such subsection the following new paragraph: "(4)

AMOUNT OF CARRYFORWARDS TO FISCAL, YEARS ENDING AFTER

1958.—For the purposes of paragraph (2)(A) ( i i), a renegotiation loss for any fiscal year (hereinafter in this paragraph referred to as the 'loss year') ending on or after December 31, 1956, shall be a renegotiation loss carryforward to each of the five fiscal years following the loss year. The entire amount of such loss shall be carried to the first fiscal year succeeding the loss year.

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