Page:United States Statutes at Large Volume 89.djvu/499

 PUBLIC LAW 94^90—AUG. 9, 1975

89 STAT. 4 3 9

Public Law 94-90 94th Congress An Act To amend the Federal Aviation Act of 1958 relating to war risk insurance.

Aug. 9. 1975 [H.R. 85e4]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section 1306 of the Federal Aviation Act of 1958 (49 U.S.C. 1536) is amended by a d d i n g at the end thereof the following new subsection:

War risk insurance, extension.

" INVESTMENT OF REVOLVING F U N D

" (f) Upon the request of the Secretary, the Secretary of the Treasury may invest all or any part of the revolving fund in interestbearing securities of the United States. The interest on, and the proceeds from the sale or redemption of, any securities held in the revolving fund shall be credited to and form a part of the revolving fund.". (b) That portion of the table of contents contained in the first section of such Act which appears under — (1) the center heading "TITLE X III — W A B R I S K INSURANCE"

is amended by striking out "Sec. 1306. Collection and disbursement of funds." and by inserting in lieu thereof "Sec. 1306. Collection, disbursement, and investment of funds."; and (2) the side heading "Sec. 1306. Collection, disbursement, and investment of funds." is amended by a d d i n g at the end thereof the following: "(f) Investment of revolving fund.". (c) The section heading of section 1306 of such Act is amended by striking out "COLLECTION AND DISBURSEMENT OF F U N D S "

and inserting in lieu thereof "COLLECTION, DISBURSEMENT, AND INVESTMENT OF F U N D S ".

SEC. 2. Section 1312 of the Federal Aviation Act of 1958 (49 U.S.C. 1542) is amended by striking out "September 7, 1975", and inserting in lieu thereof " May 7, 1976". SEC. 3. (a) The President shall conduct a full and complete investigation and study of the possible expansion of the w a r risk insurance authorized by title X III of the Federal Aviation Act of 1958 (49 U.S.C. 1531 et seq.), and by other provisions of law, to provide coverage for losses and damage resulting from riots, civil disorder, hijacking, or other similar acts. (b) I n c a r r y i n g out this section, the President shall consult with the Secretaries of Transportation, Defense, and State, and the heads of such other departments, agencies, and instrumentalities of the Federal Government as he determines necessary.

Investigation and study.

49 USC 1531 note.

Consultation

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