Page:United States Statutes at Large Volume 76.djvu/1158

 1110

PUBLIC LAW 87-846-OCT. 22, 1962

[76 STAT.

United States, without regard to the per centum of ownership vested in the claimant in any such claim. "(c) A claim under section 202 of this title, based upon an indirect ownership interest in a corporation, association, or other entity which suffered a loss within the meaning of said section, shall be allowed, subject to other provisions of this title, only if at least 25 per centum of the entire ownership interest thereof at the time of such loss was vested in nationals of the United States. " (d) Any award on a claim under subsection (b) or (c) of this section shall be calculated on the basis of the total loss suffered by such corporation, association, or other entity, and shall bear the same proportion to such loss as the ownership interest of the claimant bears to the entire ownership interest thereof. "DEDUCTIONS IN MAKING AWAKDS

53 Stat. 4. 26^scrVe1'se

"SEC. 206. (a) I n determining the amount of any award there shall be deducted all amounts the claimant has received on account of the same loss or losses with respect to which an award is made under this title. " (b) Each claim in excess of $10,000 filed under this title by a corporation shall include a statement under oath disclosing the aggregate amount of Federal tax benefits derived by such corporation in any prior taxable year or years resulting from any deduction or deductions claimed for the loss or losses with respect to which such claim is filed. Ill determining the amount of any award where the allowable loss exceeds $10,000 there shall be deducted an amount equal to the aggregate amount of Federal tax benefits so derived by the claimant. For the purposes of this subsection, such Federal tax benefits shall be the aggregate of the amounts by which the claimant's taxes for such year or years under chapters Ij 2A, 2B, 2D, and 2E of the Internal Revenue Code of 1939, or subtitle A of the Internal Revenue Code of 1954 ^^'^^e decreased' with respect to such loss or losses. Any payments made on an award reduced by reason of this subsection shall be exempt from Federal income taxes. a CONSOLIDATED AWARDS

"SEC. 207. With respect to any claim which, at the time of the award, is vested in persons other than the person by whom the loss was sustained, the Commission may issue a consolidated award in favor of all claimants then entitled thereto, which award shall indicate the respective interests of such claimant therein; and all such claimants shall participate, in proportion to their indicated interests, in the payments authorized by this title in all respects as if the award had been in favor of a single person. li

62 Stat. 807. ^f»Y^^ 2^^^

et seq.

64 Stat. 12. 22 USC 1621

note

22 USC 1641b

CERTAIN AWARDS PROHIBITED

"SEC. 208. No award shall be made under this title to or for the benefit of (1) any person who has been convicted of a violation of any provisiou of chapter 115, title 18 of the United States Code, or of any other crime involving disloyalty to the United States, or (2) any claimant whose claim under this title is within the scope of title III of the International Claims Settlement Act of 1949, as amended (69 Stat. 570), except any claimant whose award under section 303(1) of title III of the International Claims Settlement Act of 1949, as amended, is recertified pursuant to subsection (b) of section 209 of this title.

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