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PUBLIC LAW 87-820 -OCT. 15, 1962

[76 STAT.

Public Law 87-820 October 15, 1962 [H. R. 10129]

Aircraft loan guarantees. 49 USC 1324 note.

42 Stat. 20.

31 USC 1.

72 Stat. 769.

71 Stat. 629. 49 USC 1324 note. Orders, e t c., effective until terminated.

AN ACT To amend the Act of September 7, 1957, relating to aircraft loan guarantees.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (a) of section 2 of the Act of September 7, 1957 (Public Law 85-307; 71 Stat. 629), is amended to read as follows: " (a) 'Secretary' means the Secretary of Commerce." SEC. 2. Section 3 of such Act of September 7, 1957, is amended— (1) by striking out "Board" the first place it appears in the first sentence of such section 3 and inserting in lieu thereof "Secretary"; (2) by inserting "Civil Aeronautics" immediately preceding "Board" the second place it appears in such first sentence; (3) by striking out the term "United States" each place it appears in clause (c) of such first sentence and inserting in lieu thereof in each such place "forty-eight contiguous States"; and (4) by striking out "Board" where it appears in the second sentence of such section 3 and inserting in lieu thereof "Secretary". SEC. 3. Section 4 of such Act of September 7, 1957, is amended— (1) by striking out "$5,000,000" in subsection (d) and inserting in lieu thereof "$10,000,000"; and (2) by striking out "Board" in subsections (e) and (f) and inserting in lieu thereof in each of such subsections "Secretary". SEC. 4. Section 5 of such Act of September 7, 1957, is amended by striking out "Board" and inserting in lieu thereof "Secretary". SEC. 5. (a) Subsection (a) of section 6 of such Act of September 7, 1957, is amended— (1) by striking out "it" the first place it appears therein and inserting in lieu thereof "him"; (2) by striking out "it" the second place it appears therein and inserting in lieu thereof "he"; and (3) by striking out "Board" and inserting in lieu thereof "Secretary". (b) Section 6 of such Act of September 7, 1957, is amended by adding at the end thereof the following new subsection: "(c) The Secretary shall make available to the Comptroller General of the United States such information with respect to the loan guaranty program under this Act as the Comptroller General may require to carry out his duties under the Budget and Accounting Act, 1921." SEC. 6. Section 7 of such Act of September 7, 1957, is amended by striking out "Board" in subsections (b) and (c) and inserting in lieu thereof in each of such subsections "Department of Commerce". SEC. 7. Section 8 of such Act of September 7, 1957, is amended by striking out "five" and inserting in lieu thereof "ten". SEC. 8. Section 410 of the Federal Aviation Act of 1958 (49 U.S.C. 1380), is amended by adding at the end thereof the following new sentence: "The provisions of this section shall not be applicable to the guaranty of loans by the Secretary of Commerce under the provisions of such Act of September 7, 1957, as amended, but the Secretary of Commerce shall consult with and consider the views and recommendations of the Board in making such guaranties." SEC. 9. (a) All orders, determinations, rules, regulations, permissions, approvals, agreements, rulings, directives, and privileges which have been issued, made, or granted, or allowed to become effective, by

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