Page:United States Statutes at Large Volume 94 Part 1.djvu/686

 PUBLIC LAW 96-294—JUNE 30, 1980

94 STAT. 636

Post, pp. 660,662. Post, p. 665.

(I) used solely for the production of a mixture of coal and combustible liquids, including petroleum, for direct use as a fuel, but shall not include— (aa) any mineral right; or (bb) any facility or equipment for extraction of any mineral; (II) used solely for the commercial production of hydrogen from water through electrolysis; and (III) a magnetohydrodynamic topping cycle used solely for the commercial production of electricity. (ii) Such a synthetic fuel project using magnetohydrodynamic technology shall only be eligible for financial assistance pursuant to section 133 or section 136, but not both, and shall not be authorized for purposes of subtitle E. (iii) Such a synthetic fuel project for commercial production of hydrogen from water shall not be eligible for financial assistance pursuant to section 136. (C) For purposes of this paragraph— (i) the term "exclusive" means for the sole use of the project, except that an incidental byproduct might be used for other purposes; (ii) the term "incidental" means a relatively small portion of the total project cost; and (iii) the term "necessary" means an integrated part of the project taking into account considerations of economy and efficiency of operation. EFFECTIVE DATE

42 USC 8701 note.

SEC. 113. This part shall take effect on the date of the enactment of this part. SUBTITLE B—ESTABLISHMENT OF CORPORATION ESTABLISHMENT

United States Synthetic Fuels Corporation. 42 USC 8711.

Post, p. 673.

SEC. 115. (a) There is hereby created the United States Synthetic Fuels Corporation. (b) The principal office of the Corporation shall be located in the District of Columbia. The Corporation may establish offices elsewhere in the United States as determined by the Board of Directors of the Corporation. The Corporation is deemed to be a resident of the District of Columbia. (c) The general powers of the Corporation are those powers specified in section 171. BOARD OF DIRECTORS

42 USC 8712.

Membership.

Terms.

SEC. 116. (a)(1) The powers of the Corporation shall be vested in the Board of Directors, except those functions, powers, and duties vested in the Chairman by or pursuant to this part. (2) The Board of Directors shall consist of a Chairman and six other Directors appointed by the President by and with the advice and consent of the Senate. Not more than four Directors shall be members of any one political party. The Chairman shall devote full working time to the affairs of the Corporation and shall hold no other salaried position. (b)(1) The Directors shall serve for seven-year terms. Of the Directors first appointed, the Chairman shall serve as Chairman for a seven-year term, one Director shall serve for a term of six years, one

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