section 7 of the Act approved January 31, 1935 (49 Stat. 4), as amended, is amended by striking out the following: ", until the close of business on June 30, 1947, or such earlier date as may be fixed by the President by Executive order,".

[H. R. 5131, 80th Cong., 2d sess.]

A BILL To extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 8 (a) of the Stabilization Act of 1942, as amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 968), is amended by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1950."

SEC. 2. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes", approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "December 31, 1950."

SEC. 3. The first sentence of subsection (a) of section 7 of the Act entitled "An Act to extend the functions of the Reconstruction Finance Corporation for two years, and for other purposes", approved January 31, 1935, as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1950."

[H. R. 5152, 80th Cong., 2d sess.]

A BILL To extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 8 (a) of the Stabilization Act of 1942, as amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 968), is amended by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1950".

SEC. 2. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes", approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "December 31, 1950".

SEC. 3. The first sentence of subsection (a) of section 7 of the Act entitled "An Act to extend the functions of the Reconstruction Finance Corporation for two years, and for other purposes", approved January 31, 1935, as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1950".

[H. R. 5156, 80th Cong., 2d sess.]

A BILL To extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 8 (a) of the Stabilization Act of 1942, aş amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 968), is amended

by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1950."

SEC. 2. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes," approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the 2-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "December 31, 1950."

SEC. 3. The first sentence of subsection (a) of section 7 of the Act entitled "An Act to extend the functions of the Reconstruction Finance Corporation for two years, and for other purposes," approved January 31, 1935, as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1950."

[H. R. 5157, 80th Cong., 2d sess.]

A BILL To extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 8 (a) of the Stabilization Act of 1942, as amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 988), is amended by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1950".

SEC. 2. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes", approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "December 31, 1950".

SEC. 3. The first sentence of subsection (a) of section 7 of the Act entitled "An Act to extend the functions of the Reconstruction Finance Corporation for two years, and for other purposes", approved January 31, 1945, as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1950".

H. R. 5160, 80th Cong., 2d sess.]

A BILL To extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 8 (a) of the Stabilization Act of 1942, as amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 968), is amended by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1950".

SEC. 2. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes", approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities

in the present war have terminated" and by inserting in lieu thereof "December 31, 1950".

SEC. 3. The first sentence of subsection (a) of section 7 of the Act entitled "An Act to extend the functions of the Reconstruction Finance Corporation for two years, and for other purposes", approved January 31, 1935, as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1950”.

[H. R. 5179, 80th Cong., 2d sess.]

A BILL To extend the life of the Commodity Credit Corporation and to extend certain provisions affecting the price-support program for agricultural commodities

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the first sentence of subsection (a) of section 7 of the Act approved January 31, 1935 (Public Law Numbered 1, Seventyfourth Congress), as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1952'.

SEC. 2. Section 8 (a) of the Stabilization Act of 1942, as amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 968), is amended by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1952".

SEC. 3. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes", approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "December 31, 1952".

[H. R. 5218, 80th Cong., 2d sess.]

A BILL To extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 8 (a) of the Stabilization Act of 1942, as amended (U. S. C., 1940 edition, Supp. V, title 50, sec. 968), is amended by striking out "before the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation of the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "on or before December 31, 1950."

SEC. 2. Section 4 (b) of the Act entitled "An Act to extend the life and increase the credit resources of the Commodity Credit Corporation, and for other purposes," approved July 1, 1941 (U. S. C., 1940 edition, Supp. V, title 15, sec. 713a-8), is amended by striking out "the expiration of the two-year period beginning with the 1st day of January immediately following the date upon which the President by proclamation or the Congress by concurrent resolution declares that hostilities in the present war have terminated" and by inserting in lieu thereof "December 31, 1950."

SEC. 3. The first sentence of subsection (a) of section 7 of the Act entitled "An Act to extend the functions of the Reconstruction Finance Corporation for two years, and for other purposes," approved January 31, 1935, as amended (U. S. C., 1940 edition, Supp. V, title 15, sec. 713), is amended by striking out "June 30, 1948" and inserting in lieu thereof "December 31, 1950."

[H. R. 6214, 80th Cong., 2d sess.]

A BILL To provide a Federal charter for the Commodity Credit Corporation Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Commodity Credit Corporation Charter Act."

SEC. 2. CREATION AND PURPOSES.-For the purpose of stabilizing supporting, and protecting farm income and prices, of assisting in the maintenance of balanced and adequate supplies of agricultural commodities, products thereof, foods, feeds, and fibers (hereinafter collectively referred to as "agricultural commodities"), and of facilitating the orderly distribution of agricultural commodities, there is hereby created a body corporate to be known as the Commodity Credit Corporation (hereinafter referred to as the "Corporation"), which shall be an agency and instrumentality of the United States, within the Department of Agriculture, subject to the general direction and control of its Board of Directors.

SEC. 3. OFFICES.-The Corporation may establish offices in such place or places as it may deem necessary or desirable in the conduct of its business.

SEC. 4. GENERAL POWERS.-The Corporation

(a) Shall have succession in its corporate name.

(b) May adopt, alter, and use a corporate seal, which shall be judically noticed. (c) May sue and be sued, but no attachment, injunction, garnishment, or other similar process, mesne or final, shall be issued against the Corporation or its property. The district courts of the United States, including the district courts of the District of Columbia and of any Territory or possession, shall have exclusive original jurisdiction of all suits brought by or against the Corporation: Provided, That the Corporation may intervene in any court in any suit, action, or proceeding in which it has an interest. Any suit against the Corporation shall be brought in the District of Columbia, or in the district wherein the plaintiff resides or is engaged in business. No suit against the Corporation shall be allowed unless it shall have been brought within two years after the right accrued on which suit is brought. All suits against the Corporation shall be tried by the court without a jury. Notwithstanding any other provision of this Act, the Federal Tort Claims Act (Public Law 601, Seventy-ninth Congress) shall be applicable to the Corporation.

(d) May adopt, amend, and repeal bylaws, rules, and regulations governing the manner in which its business may be conducted and the powers vested in it may be exercised.

(e) Shall have all the rights, privileges, and immunities of the United States, including, but not limited to, the right to priority of payment with respect to debts due from insolvent, deceased, or bankrupt debtors, and immunity from the imposition of court costs, fees, and charges, from the allowance of interest on claims and judgments, and from State and local statutes of limitations on suits, actions, or proceedings. The Corporation may assert such rights, privileges, and immunities in any suit, action, or proceeding.

(f) Shall be entitled to the use of the United States mails in the same manner and upon the same conditions as the executive departments of the Federal Government.

(g) May enter into and carry out such contracts or agreements as it deems necessary or desirable in the conduct of its business. State and local regulatory laws or rules shall not be applicable with respect to contracts or agreements of the Corporation or the parties thereto to the extent that such contracts or agreements provide that such laws or rules shall not be applicable, or to the extent that such laws or rules are inconsistent with such contracts or agreements.

(h) May in any manner acquire, hold, and dispose of such real or personal property or any interest therein as it deems necessary or desirable in the conduct of its business.

(i) May borrow money subject to any provision of law applicable to the Corporation: Provided, That the total of all money borrowed by the Corporation, other than trust deposits and advances received on sales, shall not at any time exceed in the aggregate $4,750,000,000. The Corporation shall at all times reserve a sufficient amount of its authorized borrowing power which, together with other funds available to the Corporation, will enable it to purchase, in accordance with its contracts with lending agencies, notes, or other obligations evidencing loans made by such agencies under the Corporation's programs. (j) Shall determine the character of and the necessity for its obligations and expenditures and the manner in which they shall be incurred, allowed, and paid.

(k) Shall have authority to make final and conclusive settlement and adjustment of any claims by or against the Corporation or the accounts of its fiscal officers.

(1) May make such loans and advances of its funds as it deems necessary or desirable in the conduct of its business.

(m) Shall have such powers as may be necessary or appropriate for the exercise of the powers specifically vested in the Corporation, and all such incidental powers as are customary in corporations generally; but any research financed by the Corporation shall relate to the conservation or disposal of commodities owned or controlled by the Corporation and shall be conducted in collaboration with research agencies of the Department of Agriculture.

SEC. 5. SPECIFIC POWERS. In the fulfillment of its purposes and in carrying out its annual budget programs submitted to and approved by the Congress pursuant to the Government Corporation Control Act (31 U. S. C., 1940 edition, Supp. V, 841), the Corporation is authorized to use its general powers only to

(a) Support the prices of agricultural commodities through loans, purchases, payments, and other operations.

(b) Make available materials and facilities required in connection with the production and marketing of agricultural commodities.

(c) Procure agricultural commodities for sale to other Government agencies, foreign governments, and domestic, foreign, or international relief or rehabilitation agencies, and to meet domestic requirements.

(d) Remove and dispose of or aid in the removal or disposition of surplus agricultural commodities.

(e) Increase the domestic consumption of agricultural commodities by expanding or aiding in the expansion of domestic markets or by developing or aiding in the development of new and additional markets, marketing facilities, and uses for such commodities.

(f) Export or cause to be exported, or aid in the development of foreign markets for, agricultural commodities.

(g) Carry out such other operations as the Congress may specifically authorize or provide for.

SEC. 6. EXISTING STATUTES APPLICABLE TO THE CORPORATION.-The Federal statutes applicable to Commodity Credit Corporation, a Delaware corporation, shall be applicable to the Corporation. Commodity Credit Corporation, a Delaware corporation, shall cease to be an agency of the United States as provided in section 7 (a) of the Act of January 31, 1935, as amended (15 U. S. C., 1940 edition, Supp. V, 713 (a)).

SEC. 7. CAPITAL STOCK.-The Corporation shall have a capital stock of $100,000,000 which shall be subscribed by the United States. Such subscription shall be deemed to be fully paid by the transfer of assets to the Corporation pursuant to section 16 of this Act. The Corporation shall pay interest to the United States Treasury on the amount of its capital stock, and on the amount of the obligations of the Corporation purchased by the Secretary of the Treasury pursuant to the Act of March 8, 1938 (U. S. C., title 15, sec. 713a-4), as amended, at such rates as may be determined by the Secretary of the Treasury to be appropriate in view of the terms for which such amounts are made available to the Corporation.

SEC. 8. FUNDS.-The Corporation is authorized to use in the conduct of its business all its funds and other assets, including capital and net earnings therefrom, and all funds and other assets which have been or may hereafter be transferred or allocated to, borrowed by, or otherwise acquired by it.

SEC. 9. DIRECTORS.-The management of the Corporation shall be vested in a Board of Directors (hereinafter referred to as the "Board"). The Board shall consist of five members. The Secretary of Agriculture, or his nominee, shall be a member of the Board and the remaining members shall be appointed by the President by and with the advice and consent of the Senate. The Chairman of the Board shall be selected by the Board. A majority of the directors shall constitute a quorum of the Board and action shall be taken only by a majority vote of those present. The appointed directors shall serve for a period of 5 years, except that the terms of the first Board shall be shortened to provide for replacement or reappointment of its members in number as nearly equal as practicable in each year. The power of removal shall be vested in the President of the United States. The Corporation may provide, by its bylaws, for the compensation to be paid the directors: Provided, That the compensation paid any director shall not exceed in the aggregate $ per annum: And provided further, That employees of the Corporation or any department or agency of the Federal