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the payment of the current operating expenses of the transportation agency for the period beginning with the date on which this compact is approved by the congress and ending on June thirtieth, nineteen hundred sixty; but each state reserves the right to provide by law from time to time for budgetary and audit controls on the expenditure of such appropriations, and of any other funds coming into the hands of the transportation agency.

"4.4. Powers of others. Each and every person, corporation or other entity, county, municipal body, and agency of government of either or both of the two states is empowered to negotiate, enter into agreements with the transportation agency, and perform the same in accordance with the provisions of this compact, of any plan approved hereunder, and of any concurrent legislation enacted hereunder.

"4.5. The existence of the metropolitan rapid transit commission created by chapter forty-four of the laws of nineteen hundred fiftyfour of the state of New Jersey and by chapter eight hundred one of the laws of nineteen hundred fifty-four of the state of New York is hereby terminated except for the purpose of winding-up, which shall be completed as expeditiously as possible. All books, records, reports, studies, maps, plans, correspondence, files, and papers of whatever kind whatsoever in the hands of said commission shall be turned over to the transportation agency and any property remaining in the hands of said commission shall be offered to the transportation agency and if not accepted by said agency shall be transferred to the two states.

"4.6. Duration. The transportation agency shall continue in existence until June thirtieth, nineteen hundred sixty-one, but the duration of its existence may be continued for such term or terms thereafter as concurrent legislation may provide.

"4.7. Amendments. Amendments and supplements to this compact to implement the purposes thereof may be adopted by concurrent legislation.

"4.8. Severability of act. If any part or provision of this act or the application thereof to any person or circumstances be adjudged invalid by any court of competent jurisdiction, such judgment shall be confined in its operation to the part, provision, or application directly involved in the controversy in which such judgment shall have been rendered and shall not affect or impair the validity of the remainder of this compact or the application thereof to other persons or circumstances, and the states hereby declare that they would have entered into this compact or the remainder thereof had the invalidity of such provision or application thereof been apparent.”

73 STAT. 581

SEC. 2. The consent of Congress granted pursuant to this joint 73 STAT. 582. resolution is subject to the following conditions or requirements:

(a) The right to alter, amend, or repeal this joint resolution is hereby expressly reserved.

(b) Any long-range plan, when adopted by concurrent legislation of the compacting states, shall be submitted to Congress for its consent before such long-range plan becomes effective.

(c) Any concurrent legislation enacted by the compacting states amending or supplementing this compact shall be submitted to Congress for its consent before such legislation becomes effective, except that this subsection shall not apply to article 4.6 of this compact.

(d) The New York-New Jersey Transportation Agency Compact shall submit to Congress the same periodic reports it is required to Reports to make to the governors and legislatures of the compacting states, pur- Congress. suant to and under the same conditions of section 3.8 of the compact.

73 STAT. SA2.

(e) The right is hereby reserved to the Congress to require the dis closure and furnishing of such information or data as is deemed appropriate by the Congress. Congress shall have access to all books, records or papers of the New York-New Jersey Transportation Agency as well as the right of inspection of any facility being used or under the control of said Agency.

(f) Nothing contained in this joint resolution or the Compact set out herein shall be construed as impairing or in any manner affecting any right or jurisdiction of any department, agency, bureau or other office of the United States Government having regulatory or adminis trative powers over or concerning interstate or foreign commerce. Approved September 21, 1959.

86th Congress, H. R. 8238

June 8, 1960

AN ACT

74 STAT, 162.

To authorize and direct the Surgeon General of the Public Health Service to make a study and report to Congress, from the standpoint of the public health, of the discharge of substances into the atmosphere from the exhausts of motor vehicles.

Study.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Surgeon Exhausts of General of the Public Health Service (hereinafter referred to as the motor vehicles. "Surgeon General") shall conduct a thorough study for the purpose of determining, with respect to the various substances discharged from the exhausts of motor vehicles, the amounts and kinds of such substances which, from the standpoint of human health, it is safe for motor vehicles to discharge into the atmosphere under the various conditions under which such vehicles may operate.

SEC. 2. As soon as practicable, but not later than two years after Report to the date of the enactment of this Act, the Surgeon General shall sub- Congress. mit to Congress a report on the results of the study conducted pursuant to the first section of this Act, together with such recommendations, if any, based upon the findings made in such study, as he may deem to be necessary for the protection of the public health.

SEC. 3. As used in this Act the term "motor vehicles" means vehicles Definition. propelled by mechanical power and used for transporting passengers or property on a highway.

Approved June 8, 1960.

Public Law 86-496
86th Congress, H. R. 11405

June 8, 1960

AN ACT

74 STAT. 164.

To provide for the treatment of income from discharge of indebtedness of a railroad corporation in a receivership proceeding or in a proceeding under section 77 of the Bankruptcy Act commenced before January 1, 1960, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section Taxes. 108(b) of the Internal Revenue Code of 1954 (relating to income of a Railroad corrailroad corporation from discharge of indebtedness) is hereby porations. amended to read as follows:

"(b) RAILROAD CORPORATIONS.-No amount shall be included in gross income by reason of the discharge, cancellation, or modification, in whole or in part, within the taxable year, of any indebtedness of a railroad corporation, as defined in section 77 (m) of the Bankruptcy

68A Stat. 32.

26 USC 108.

Act (11 U.S.C. 205 (m)), if such discharge, cancellation, or modifica- 47 Stat. 1481. tion is effected pursuant to an order of a court—

"(A) in a receivership proceeding, or

"(B) in a proceeding under section 77 of the Bankruptcy Act, commenced before January 1, 1960. In such cases, the amount of any income of the taxpayer attributable to any unamortized premium (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be included in gross income, and the amount of the deduction attributable to any unamortized discount (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be allowed as a deduction. Subsection (a) of this section shall not apply with respect to any discharge of indebtedness to which this subsection applies."

(b) The amendment made by subsection (a) shall apply to taxable Applic Dility. years ending after December 31, 1959, but only with respect to discharges occurring after such date.

ac

of vacation

SEC. 2. Section 97 of the Technical Amendments Act of 1958 (26 Deductibilit U.S.C., sec. 162 note; 72 Stat. 1672), relating to deductibility of crued vacation pay, is amended by striking out "January 1, 1961," pay. and inserting in lieu thereof "January 1, 1963,". Approved June 8, 1960.

'55-598 0-71-36

86th Congress, S. J. Res. 42
June 27, 1960

JOINT RESOLUTION

To establish an objective for coordinating the development of the District of Columbia with the development of other areas in the Washington metropolitan region and the policy to be followed in the attainment thereof, and for other purposes.

74 STAT, 223.

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited Washington Metropolitan as the "Washington Metropolitan Region Development Act".

ment Act.

SEC. 2. The Congress hereby declares that, because the District which Region Developis the seat of the Government of the United States and has now become Necessity for the urban center of a rapidly expanding Washington metropolitan coordination. region, the necessity for the continued and effective performance of the functions of the Government of the United States at the seat of said Government in the District of Columbia, the general welfare of the District of Columbia and the health and living standards of the people residing or working therein and the conduct of industry, trade, and commerce therein require that the development of the District of Columbia and the management of its public affairs shall, to the fullest extent practicable be coordinated with the development of the other areas of the Washington metropolitan region and with the management of the public affairs of such other areas, and that the activities of all of the departments, agencies, and instrumentalities of the Federal Government which may be carried out in, or in relation to, the other areas of the Washington metropolitan region shall, to the fullest extent practicable, be coordinated with the development of such other areas and with the management of their public affairs; all toward the end that, with the cooperation and assistance of the other areas of the Washington metropolitan region, all of the areas therein shall be so developed and the public affairs thereof shall be so managed as to contribute effectively toward the solution of the community development problems of the Washington metropolitan region on a unified metropolitan basis.

SEC. 3. The Congress further declares that the policy to be followed Policy. for the attainment of the objective established by section 2 hereof, and for the more effective exercise by the Congress, the executive branch of the Federal Government and the Board of Commissioners of the District of Columbia and all other officers and agencies and instrumentalities of the District of Columbia of their respective functions, powers, and duties in respect of the Washington metropolitan region, shall be that all such functions, powers, and duties shall be exercised and carried out in such manner as (with proper recognition of the sovereignty of the State of Maryland and the Commonwealth of Virginia in respect of those areas of the Washington metropolitan region as are situate within their respective jurisdictions) will best facilitate the attainment of such objective of the coordinated development of the areas of the Washington metropolitan region and coordinated management of their public affairs so as to contribute effectively to the solution of the community development problems of the Washington metropolitan region on a unified metropolitan basis.

SEC. 4. The Congress further declares that, in carrying out the Priority policy pursuant to section 3 hereof for the attainment of the objective projects. established by section 2 hereof, priority should be given to the solution, on a unified metropolitan basis, of the problems of water supply, sewage disposal, and water pollution and transportation.

SEC. 5. The Congress further declares that the officers, departments, Study of agencies, and instrumentalities of the executive branch of the Federal report. Government and the Board of Commissioners of the District of

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