Page:United States Statutes at Large Volume 87.djvu/167

 87 STAT. ]

PUBLIC LAW 93-53-JULY 1, 1973

public debt limit for the fiscal year ending June 30, 1973 (Public Law 92-599), is amended by striking out "June 30, 1973" and inserting in lieu thereof "November 30, 1973". . . . SEC. '2. The last sentence of the second paragraph of the first section of the Second Liberty Bond Act, as amended (31 U.S.C. 752), is amended to read as follows: "Bonds authorized by this section may be issued from time to time to the public and to Government accounts at a rate or rates of interest exceeding 4^4 per centum per annum; except that bonds may not be issued under this section to the public, or sold by a Government account to the public, with a rate of interest exceeding •I14 per centum per annum in an amount which would cause the face amount of bonds issued under this section then held by the public with rates of interest exceeding 414 per centum per annum to exceed $10,000,000,000." SEC. 3. (a) Section 22 of the Second Liberty Bond Act, as amended (31 U.S.C. 757c), is amended by adding at the end thereof the following new subsection: " (j)(1) The Secretary of the Treasury is authorized to prescribe by regulations that checks issued to individuals (other than trusts and estates) as refunds made in respect of the taxes imposed by subtitle A of the Internal Revenue Code of 1954 may, at the time and in the manner provided in such regulations, become United States savings bonds of series E. Except as provided in paragraph (2), bonds issued under this subsection shall be treated for all purposes of law as series E bonds issued under this section. This subsection shall apply only if the claim for refund was filed on or before the last day prescribed by law for filing the return (determined without extensions thereof) for the taxable year in respect of which the refund is made. "(2) Any check-bond issued under this subsection shall bear an issue date of the first day of the first calendar month beginning after the close of the taxable year for which issued. "(3) In the case of any check-bond issued under this subsection to joint payees, the regulations prescribed under this subsection may provide that either payee may redeem the bond upon his request." (b) The amendment made by subsection (a) shall apply with respect to refunds made after December 31, 197S. SEC. 4. (a)(1) Paragraph (1) of section 502 of the Social Security Act is amended by striking out "each of the next 4 fiscal years" and insGi-ting in lieu thereof "each of the next 5 fiscal years". (2) Paragraph (2) of section 502 of such Act is amended by striking out "June 30, 1974" and inserting in lieu thereof "June 30, 1975". (3) Section 505(a)(8) of the Social Security Act is amended by striking out "July 1, 1973" and inserting in lieu thereof "July 1, 1974". (4) Section 505(a)(9) of such Act is amended by striking out "July 1, 1973" and inserting in lieu thereof "July 1, 1974". (5) Section 505(a) (10) of such Act is amended by striking out "July 1, 1973" and inserting in lieu thereof "July 1, 1974". (6) Section 508(b) of such Act is amended by striking out "June 30, 1973" and inserting in lieu thereof "June 30, 1974". (7) Section 509(b) of such Act is amended by striking out "June 30, 1973" and inserting m lieu thereof "June 30, 1974".

135 86 Stat. 1324. note.^"''' interest rates. ^ostat. 288.

chlckro^nd.'^ 49 Stat. 21; 59 Stat. 47.

ga^suf'eoo^' 26 USC 1 et seq.

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Effective date. chud'hTai\h"strv. ices. ^2 USC'7*02^'

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'^^ ^^^ ^°**42 USC 709.

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