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Senate bill

ENVIRONMENTAL FINANCING

No comparable provision.

House amendment

Section 12 of the House amendment is given the short title of the Environmental Financing Act of 1972. It creates a body corporate known as the Environmental Financing Authority which is under the general supervision and direction of the Secretary of the Treasury. It provides the usual details concerning the makeup of the Authority, the meetings, and authorizes them to make commitments to purchase, and to purchase any obligation or participation issued by a State or local public body to finance the non-Federal share of the cost of a project for construction of waste treatment works, which project is eligible for Federal financial assistance under the Federal Water Pollution Control Act. No such commitment shall be entered into and no purchase made unless the administrator of EPA (1) certifies that the public body is unable to obtain on reasonable terms sufficient credit to finance its actual needs, (2) has approved the project as eligible under the Federal Water Pollution Control Act, and (3) has agreed to guarantee timely payment of principal and interests on the obligation. Appropriations are authorized for these payments. To provide initial capital to the Authority, the Secretary of the Treasury is authorized to advance funds. An authorization of not to exceed $100,000,000 is provided for this purpose.

The Authority is authorized to issue obligations, and the Secretary of the Treasury is authorized to purchase or agree to purchase these obligations. The Secretary of the Treasury is authorized to use as a public debt transaction the proceeds of the sale of any securities hereafter issued under the Second Liberty Bond Act and the purposes for which securities may be issued under that Act are extended to include these purchases. The Secretary of the Treasury shall make annual payments to the Authority in such amounts as are necessary to equal the amount by which interest expenses accrued by the Authority on account of its obligations exceeds interest income accrued by the Authority on account of obligations purchased by it under this section.

The Authority is given the usual powers granted corporations.

The Authority, its property, franchise, capital, reserves, surplus, security holdings, and other funds, and its income are exempt from all taxation, Federal, State, or local except real property and any tangible personal property and obligations issued by the Authority. Annual reports are required. Budget and audit provisions of the Government Corporation Control Act are made applicable and certain conforming changes are made in existing statutes.

Conference substitute

This is the same as the House amendment, except that the right to make commitments to purchase and to purchase obligations or participations granted the Authority in subsection (e) (1) is limited to the period ending July 1, 1975.

The conferees intend that the Environmental Financing Authority shall not compete with private bond underwriters in the municipal

bond market. The authority should not provide financing assistance to a community that can borrow money on the open market at reasonable rates. The authority provided in section 12 should be exercised only as a last resort.

Senate bill

SEX DISCRIMINATION

No comparable provision.

House amendment

Section 13 provides that no person in the United States shall, on the ground of sex, be excluded from participation in, be denied the benefits of, or be subject to discrimination under any program or activity under the Federal Water Pollution Control Act Amendments of 1972, the Federal Water Pollution Control Act, or the Environmental Financing Act. This section is to 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. This remedy is not exclusive and does not prejudice or cut off any other legal remedies available to a discriminatee.

Conference substitute

This is the same as the House amendment.

Senate bill

DIKED DISPOSAL AREAS

Section 4 amends section 123 of the Rivers and Harbors Act of 1970 to make the diked disposal program nationwide in its application. House amendment

No comparable provision.

Conference substitute

No comparable provision.

JOHN A. BLATNIK,
ROBERT E. JONES,
JIM WRIGHT,

HAROLD T. JOHNSON,
ROBERT A. ROE,

WILLIAM H. HARSHA,

JAMES R. GROVER,

DON H. CLAUSEN,

CLARENCE E. MILLER,

Managers on the Part of the House.

EDMUND S. MUSKIE,

JENNINGS RANDOLPH,

BIRCH BAYH,

THOMAS F. EAGLETON,

J. CALEB BOGGS,

JOHN SHERMAN COOPER,

HOWARD H. BAKER,

Managers on the Part of the Senate.

Public Law 92-240

92nd Congress. S. 3122

March 1, 1972

AN ACT To extend certain provisions of the Federal Water Pollution Control Act through June 30, 1972, and others through April 30, 1972

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

Federal Water
Pollution
extension.
84 Stat. 111,
113; 85 Stat.
33 USC 1155.

Control Act,

80 Stat. 1247:

379.

SECTION 1. Section 5(n) of the Federal Water Pollution Control Act, as amended (33 U.S.C. 1151 et seq.), is further amended by inserting after the first sentence thereof the following: "There is authorized to be appropriated not to exceed $9,000,000 for the period commencing November 1, 1971, and ending June 30, 1972, for the purpose of salaries and related expenses incurred during that period under this section, in addition to funds made available under Public Law 92-50 and Public Law 92137. There is authorized to be appropriated not to exceed $30,000,000 for the period commencing November 1, 1971, 379. and ending April 30, 1972, for otherwise carrying out this section and such amount shall be in addition to any other funds authorized for this section.".

SEC. 2. Section 7(a) of the Federal Water Pollution Control Act (33 U.S.Ć. 1157 (a)) is amended by striking out "and for the four-month period ending October 31, 1971, $4,000,000." and inserting in lieu thereof "and for the fiscal year ending June 30, 1972, $15,000,000,".

85 Stat. 124;

SEC. 3. The second sentence of section 8(d) of the Federal Water Pollution Control Act (33 U.S.C. 1158 86 Stat. 47 (d)) is amended by striking out "$650,000,000 for the 86 Stat. 48 four-month period ending October 31, 1971." and insert

ing in lieu thereof "$1,650,000,000 for the period ending

April 30, 1972.".

Approved March 1, 1972.

LEGISLATIVE HISTORY

House reports: No. 92-812 accompanying H.R. 12741 (Committee on Public Works) and No. 92-834 (Committee of Conference).

Senate report No. 92-602 (Committee on Public Works).

Congressional Record, volume 118 (1972):

February 3, considered and passed Senate.

February 7, considered and passed House, amendel, in lieu of H.R. 12741. February 16, House and Senate agreed to conference report.

Public Law 92-50

92nd Congress, S. 2133
July 9, 1971

AN ACT To extend the Federal Water Pollution Control Act, as amended, for three months.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the funds authorized to be appropriated in sections 5(n) and 6(e) of the Federal Water Pollution Control Act, as amended (33 U.S.C. 466 et seq.), for the fiscal year ending June 30, 1971, shall remain available until September 30, 1971.

SEC. 2. Section 7(a) of the Federal Water Pollution Control Act, as amended (33 U.S.C. 446 et seq.), is amended by inserting after "$10,000,000" the following: ", and for the three-month period ending September 30, 1971, $2,500,000".

66

SEC. 3. The second sentence of section 8 (d) of the Federal Water Pollution Control Act, as amended (33 U.S.C. 466 et seq.), is amended by striking "and $1,250,000,000 for the fiscal year ending June 30, 1971." and inserting in lieu thereof "$1,250,000,000 for the fiscal year ending June 30, 1971; and $500,000,000 for the three-month period ending September 30, 1971." Approved July 9, 1971.

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LEGISLATIVE HISTORY

Senate report No. 92-234 (Committee on Public Works).
Congressional Record, volume 117 (1971) :

June 23, considered and passed Senate.

July 1, considered and passed House.

(185)

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