Page:United States Statutes at Large Volume 90 Part 1.djvu/362

 90 STAT. 312 Ante, p. 307. '

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Reports to congressional committees.

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10 USC 7432. _•

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10 USC 7433.

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PUBLIC LAW 94-258~APR. 5, 1976 7422(c), the Secretary shall submit to the Committees on Armed Services of the Senate and the House of Representatives any new plans or substantial amendments to ongoing plans for the exploration, development, and production of the naval petroleum reserves. " (2) All plans or substantial amendments submitted to the Congress pursuant to this section shall contain a report by the Attorney General of the United States with respect to the anticipated effects of such plans or amendments on competition. Such plans or amendments shall not 'be implemented until sixty days after such plans or amendments have been submitted to such committees. "(c) During the period of production authorized by section 7422(c), the Secretary shall submit annual reports as of the first day of the fiscal year to the Committees on Ai-med Services of the Sienate and the House of Representatives, and such committees shall cause such reports to be printed as a Senate or House document, as appropriate. The Secretary shall include in such reports, with respect to each naval petroleum reserve, an explanation in detail of the following: " (1) the status of the exploration, development, and production programs; "(2) the production that has been achieved, including the disposition of such production and the proceeds realized therefrom; "(3) the status of pipeline construction and procurement and problems related to the availability of transportation facilities; "(4) a summary of future plans for exploration, development, production, disposal, and transportation of the production from the naval petroleum reserves; and "(5) such other information regarding the reserve as the Secretary deems appropriate.''. (13) Section 7432 is amended to read as follows: "(a) There is hereby established on the books of the Treasury Department a special account designated as the 'naval petroleum reserves special account'. There shall be credited to such account— "(1) all proceeds realized under this chapter from the disposition of the United States share of petroleum; "(2) the net proceeds, if any, realized from sales or exchanges within the Department of Defense of refined petroleum products accruing to the benefit of any component of that department as the result of any such sales or exchanges; "(3) such additional sums as may be appropriated for the maintenance, operation, exploration, development, and production of the naval petroleum reserves; "(4) such royalties as may accrue under the provisions of section 7433; and "(5) any other revenues resulting from the operation of the naval petroleum reserves. "(b) Funds available in the naval petroleum reserve special account shall be available for expenditure in such sums as are specified in annual appropriations Acts for the expenses of— "(1) exploration, prospecting, conservation, development, use, operation, and production of the naval petroleum reserves as authorized by this chapter; "(2) production (including preparation for production) as authorized by this chapter, or as may hereafter be authorized; " (3) the construction and operation of facilities both within and outside the naval petroleum reserves incident to the production and the delivery of petroleum, including pipelines and shipping terminals;
 * § 7432. Naval petroleum reserves special account

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