HEARINGS BEFORE A SUBCOMMITTEE OF THE COMMITTEE ON AGRICULTURE AND FORESTRY SEVENTY-SEVENTH CONGRESS SECOND SESSION ON S. 2361 A BILL TO AMEND THE TENNESSEE VALLEY AUTHORITY MARCH 16, 17, 18, AND 19, 1942 Printed for the use of the Committee on Agriculture and Forestry TO AMEND TENNESSEE VALLEY AUTHORITY ACT MONDAY, MARCH 16, 1942 UNITED STATES SENATE SUBCOMMITTEE OF THE COMMITTEE ON AGRICULTURE AND FORESTRY, Washington, D. C. The subcommittee met, pursuant to call, at 10:30 a. m., in the committee room, 324 Senate Office Building, Senator John H. Bankhead presiding. Senator BANKHEAD. Gentlemen, the subcommittee will come to order. This is a hearing on S. 2361, introduced by Senator McKellar. For the purpose of the record I will instruct the reporter to put the bill in at this point. (The bill is as follows:) [S. 2361, 77th Cong., 2d Sess.] A BILL To amend the Tennessee Valley Authority Act of 1933, as amended, with respect to the manner of the exercise of the power of condemnation by the Tennessee Valley Authority and to require the receipts of the Authority to be covered into the Treasury Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That sections 25, 26, and 27 of the Tennessee Valley Authority Act of 1933, as amended, are amended to read as follows: "SEC. 25. The Corporation may acquire by condemnation any lands, easements, or rights-of-way which, in the opinion of the Corporation, are necessary to carry out the provisions of this Act. The authority conferred by this section shall be exercised in accordance with the laws of the United States (including the Act of February 26, 1931 (46 Stat. 1421)) applicable with respect to the condemnation of lands and interests therein by other departments and agencies of the Government. "SEC. 26. Commencing July 1, 1942, all proceeds derived by the Board from the sale of power or any other products manufactured by the Corporation, and from any other activities of the Corporation, including the disposition of any real or personal property, shall be paid into the Treasury of the United States monthly, and shall not be expended until subsequently appropriated by the Congress. "SEC. 27. There are hereby authorized to be appropriated, out of the Treasury of the United States, such sums as may be necessary (1) to pay the expenses of the Corporation in its operations and the conduct of its business, (2) to provide an emergency fund not in excess of $1,000,000 at any one time which shall be available to the Board to defray emergency expenses and insure continuous operation, and (3) to otherwise carry out the provisions of this Act, but the Authority shall report any uses of said emergency fund on the first of January and first of July each year. SEC. 2. Notwithstanding the amendment made by this Act to section 25 of the Tennessee Valley Authority Act of 1933, as amended, any proceeding instituted under such section prior to the date of enactment of this Act may, in the discretion of the court in which such proceeding is pending and with the consent of all known parties in interest, be allowed to continue and be prosecuted to a final determination in the same manner and with like effect as if such section 25 had not been amended by this Act. SEC. 3. Notwithstanding the amendment made by this Act to section 26 of the Tennessee Valley Authority Act of 1933, as amended, the provisions of such section 26 as they read immediately prior to the date of enactment of this Act shall continue to be in effect until July 1, 1942. 1 |