Tax exemp tion; exceptions. Annual report to President and Congress. to fix and to pay such compensation for their services as may be determined, subject to the civil service and classification laws, to require bonds for them and pay the premium thereof; and (9) to enter into contracts, to execute instruments, to incur liabilities, and to do all things as are necessary or incidental to the proper management of its affairs and the proper conduct of its business. (j) The Authority, its property, its franchise, capital, reserves, surplus, security holdings, and other funds, and its income shall be exempt from all taxation now or hereafter imposed by the United States or by any State or local taxing authority; except that (A) any real property and any tangible personal property of the Authority shall be subject to Federal, State, and local taxation to the same extent according to its value as other such property is taxed, and (B) any and all obligations issued by the Authority shall be subject both as to principal and interest to Federal, State, and local taxation to the same extent as the obligations of private corporations are taxed. (k) All obligations issued by the Authority shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under authority or control of the United States or of any officer or officers thereof. All obligations issued by the Authority pursuant to this section shall be deemed to be exempt securities within the meaning of laws administered by the Securities and Exchange Commission, to the same extent as securities which are issued by the United States. (1) In order to furnish obligations for delivery by the Authority, the Secretary of the Treasury is authorized to prepare such obligations in such form as the Authority may approve, such obligations when prepared to be held in the Treasury subject to delivery upon order by the Authority. The engraved plates, dies, bed pieces, and so forth, executed in connection therewith, shall remain in the custody of the Secretary of the Treasury. The Authority shall reimburse the Secretary of the Treasury for any expenditures made in the preparation, custody, and delivery of such obligations. (m) The Authority shall, as soon as practicable after the end of each fiscal year, transmit to the President and the Congress an annual report of its operations and activities. (n) The sixth sentence of the seventh paragraph of section 5136 of the Revised Statutes, as amended (12 U.S.C. 24), is amended by inserting "or obligations of the Environmental Financing Authority" immediately after "or obligations, participations, or other instruments of or issued by the Federal National Mortgage Association or the Government National Mortgage Association". (0) The budget and audit provisions of the Government Corporation Control Act (31 U.S.C. 846) shall be 59 Stat. 597. applicable to the Environmental Financing Authority in the same manner as they are applied to the wholly owned Government corporations. (p) Section 3689 of the Revised Statutes, as amended (31 U.S.C. 711), is further amended by adding a new paragraph following the last paragraph appropriating moneys for the purposes under the Treasury Department to read as follows: "Payment to the Environmental Financing Authority: For payment to the Environmental Financing Authority under subsection (h) of the Environmental Financing Act of 1972." SEX DISCRIMINATION Ante, p. 901. Ante, pp. 816 SEC. 13. No person in the United States shall on the ground of sex be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity receiving Federal assistance under this Act, the Federal Water Pollution Control Act, or the Environmental Financing Act. This section shall be enforced through agency provisions and rules similar to those already established, with respect to racial and other discrimination, under title VI of the Civil Rights Act of 1964. However, this remedy is not exclusive and will not prejudice or cut off any other legal 42 USC 2000d. remedies available to a discriminatee. Acting President of the Senate pro tempore. IN THE SENATE OF THE UNITED STATES, October 18 (legislative day, October 17), 1972. The Senate having proceeded to reconsider the bill (S. 2770) entitled "An Act to amend the Federal Water Pollution Control Act," returned by the President of the United States with his objections, to the Senate, in which it originated, it was Resolved, That the said bill pass, two-thirds of the Senators present having voted in the affirmative. Attest: FRANCIS R. VALEO, Secretary. By: DARRELL ST. CLAIRE, I certify that this Act originated in the Senate. FRANCIS R. VALEO, 78 Stat. 252. IN THE HOUSE OF REPRESENTATIVES, U.S., The House of Representatives having proceeded to reconsider the bill (S. 2770) entitled "An Act to amend the Federal Water Pollution Control Act," returned by the President of the United States with his objections to the Senate, in which it originated, it was Resolved, That the said bill pass, two-thirds of the House of Representatives agreeing to pass the same. Attest: W. PAT JENNINGS, Clerk. By: W. RAYMOND COLLEY, LEGISLATIVE HISTORY House reports: No. 92-911 accompanying H.R. 11896 (Committee on Public Works) and No. 92-1465 (Committee of Conference). Senate reports: No. 92-414 (Committee on Public Works) and No. 92–1236 (Committee of Conference). Congressional Record: Volume 117 (1971): November 2, considered and passed Senate. Volume 118 (1972): March 27-29, considered and passed House, amended, in lieu of H.R. 11896. October 4, House and Senate agreed to conference report. Weekly Compilation of Presidential Documents: Volume 8, No. 43 (1972): October 17, vetoed; Presidential message. Congressional Record: Volume 118 (1972): October 18, Senate and House overrode veto. Joint Explanatory Statement of the Committee on Conference (From House Conference Report 92-1465) The managers on the part of the House and the Senate at the conference on the disagreeing votes of the two Houses on the amendment of the House to the bill (S. 2770) to amend the Federal Water Pollution Control Act, submit the following joint statement to the House and the Senate in explanation of the effect of the action agreed upon by the managers and recommended in the accompanying conference report: The House amendment struck out all of the Senate bill after the enacting clause and inserted a substitute text. With respect to the amendment of the House, the Senate recedes from its disagreement to the amendment of the House, with an amendment which is a substitute for both the Senate bill and the House amendment. The differences between the Senate bill, the House amendment, and the substitute agreed to in conference are noted below except for minor technical and clarifying changes made necessary by reason of the conference agreement. Senate bill SHORT TITLE Provides that the Act may be cited as the "Federal Water Pollution Control Act Amendments of 1971". House amendment Provides that the Act may be cited as the "Federal Water Pollution Control Act Amendments of 1972". Conference substitute The conference substitute is the same as the House amendment. Both the Senate bill and the House amendment provide for complete revisions of the Federal Water Pollution Control Act. This revision would consist of five titles and hereafter the references in this statement are to the sections and titles of the proposed revisions of the Federal Water Pollution Control Act. TITLE I—RESEARCH AND RELATED PROGRAMS Senate bill DECLARATION OF GOALS AND POLICY Section 101 establishes a policy to eliminate the discharge of pollutants by 1985, restore the natural chemical, physical, and biological integrity of United States waters, and reach an interim goal of water quality for swimming and fish propagation by 1981. Section 101 also prohibits the discharge of toxic pollutants in "toxic amounts", provides for Federal financial assistance for construction of waste treatment facilities, develops regional waste treatment man agement programs, initiates a major research and demonstration effort to find technological methods necessary to eliminate waste discharges, and requires the Administrator of the Environmental Protection Agency to develop minimum guidelines for public participation in enforcement of the proposed Act. House amendment Section 101 sets an objective of restoring and maintaining the chemical, physical, and biological integrity of United States waters. To achieve the proposed objective, the amendment establishes two national goals. The goals are to eliminate the discharge of pollutants into navigable waters by 1985, and to have water quality that provides for protection of fish, shellfish, and wildlife, and for recreation in and on water by 1981. Other national policies stated in the section include Federal assistance for construction of waste treatment facilities, creation of area waste treatment management planning processes in each State, and major research and demonstration efforts to develop technology necessary to achieve the zero-discharge goal. Section 101 (c) calls on the President to encourage foreign countries to set goals which are at least comparable to those of the United States. Section 101 (f) sets a national policy encouraging "drastic minimization" of paperwork and duplication of efforts, and best utilization of available manpower and funds. Section 101(g) would require agencies involved in carrying out the bill to consider all potential impacts of their activities on water, land, and air. Conference substitute The conference substitute is basically the same as the Senate bill as revised by the House amendment with the following changes: (1) The interim goal of water quality is set for achievement by July 1, 1983, instead of 1981. (2) The terms "abate" and "abatement" of pollution have been replaced by the terms "reduction" and "elimination" of pollution. (3) Subsection (g) of the House amendment has been eliminated. COMPREHENSIVE PROGRAMS FOR WATER POLLUTION CONTROL Senate bill Section 102 grants the Administrator authority to develop programs for eliminating pollution of navigable waters and ground waters. The section also provides for 50 percent matching FederalState grants for river basin planning. Subsection (b) makes it clear that regulation of streamflow cannot substitute for adequate waste treatment or other methods of eliminating waste at the source. The Administrator would be given authority to determine when low flow augmentation is an appropriate technique for supplementing pollution control programs. House amendment Section 102(b) provides for inclusion of storage for regulation of streamflow for water quality control in Federal projects if the costs |