All 69 Stat. 551. prises, to insure that a fair proportion of Government contracts for research and development be placed with small-business concerns, and to insure". SEC. 8. Section 213 of the Small Business Act of 1953 is amended by 15 USC 642. adding "(a)" immediately following "SEC. 213." and by inserting an additional subsection, as follows: "(b) Offices of the Government having procurement or lending powers, or engaging in the disposal of Federal property or allocating materials or supplies, or promulgating regulations affecting the distribution of materials or supplies shall accept as conclusive the Administration's determination as to which enterprises are to be designated 'small-business concerns', as authorized and directed under section 212 (c) of this title." SEC. 9. Section 214 of the Small Business Act of 1953 is amended 15 USC 643. (1) by inserting before "mobilizing" the words "maintaining or". SEC. 10. Section 215 of the Small Business Act of 1953 is amended Reports. by inserting at the end thereof the following new sentence: "The Ad- 15 USC 644. ministration shall make a report to the President, the President.of the Senate, and the Speaker of the House of Representatives, to the Senate Select Committee on Small Business and to the House Select Committee To Conduct a Study and Investigation of the Problems of Small Business on December 31, 1955, and at the end of each six months thereafter, showing as accurately as possible for each such period the amount of funds appropriated to it that it has expended in the conduct of each of its principal activities such as lending, procurement, contracting, and providing technical and managerial aids." SEC. 11. Section 215 of the Small Business Act of 1953 is further Retention of amended by adding at the end thereof the following sentence: "The records. Administration shall retain all correspondence, records of inquiries, memoranda, reports, books, and records, including memoranda as to all investigations conducted by or for the Administration, for a period of at least one year from the date of each thereof, and shall at all times keep the same available for inspection and examination by the Senate Select Committee on Small Business, and the House Select Committee To Conduct a Study and Investigation of the Problems of Small Business, or their duly authorized representatives.". SEC. 12. (a) Section 218 (a) of the Small Business Act of 1953 is 15 USC 647. amended by striking out "(a)" immediately following "SEC. 218". (b) Section 218 (b) of the Small Business Act of 1953 is hereby repealed. SEC. 13. Section 221 (a) of the Small Business Act of 1953 is 15 USC 650. amended by striking out the figures "1955" and inserting in lieu thereof "1957". SEC. 14. The Small Business Act of 1953 is amended by adding at the end thereof two new sections which shall read as follows: "SEC. 224. All laws and parts of laws inconsistent with this Act are hereby repealed to the extent of such inconsistency. "SEC. 225. The Administration shall not duplicate the work or activity of any other department or agency of the Federal Government and nothing contained in this Act shall be construed to authorize any such duplication unless such work or activity is expressly provided for in this Act." SEC. 15. Section 3 of the Armed Services Procurement Act of 1947 62 Stat. 22. 41 USC 152. is amended by adding at the end thereof the following new paragraph: 66 (c) All bids or invitations for bids shall contain in their specifications all the necessary language and material required and shall be so Effective date. All 69 Stat. 552. descriptive both in its language and attachments thereto in order to SEC. 16. This Act shall take effect as of the close of July 31, 1955. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection Small Business. (b) of section 204 of the Small Business Act of 1953, as amended, is 67 Stat. 233. hereby amended to read as follows: 15 USC 633. "(b) The Administration is authorized to obtain money from the Revolving Treasury of the United States for use in the performance of the fund. powers and duties granted to or imposed upon it by law, not to exceed a total of $375,000,000 outstanding at any one time. For this purpose appropriations not to exceed $375,000,000 are hereby authorized to be made to a revolving fund in the Treasury. Advances shall be made to the Administration from the revolving fund when requested by the Administration. This revolving fund shall be used for the purposes enumerated subsequently in section 207 (a), (b) (1), (b) (2), and (b) (3). Not to exceed an aggregate of $150,000,000 shall be outstanding at any one time for the purposes enumerated in section 207 (a). Not to exceed an aggregate of $125,000,000 shall be outstanding at any one time for the purposes enumerated in section 207 (b) (1). Not to exceed an aggregate of $100,000,000 shall be outstanding at any one time for the purposes enumerated in section 207 (b) (2) and (b) (3). The Administration shall pay into miscellaneous receipts of the Treasury at the close of each fiscal year, interest on the net amount of the cash disbursements from such advances at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding interest-bearing marketable public debt obligations of the United States of comparable maturities." 69 Stat. 549. 15 USC 636. SEC. 2. The proviso in paragraph (1) of subsection (b) of section Disaster 207 of the Small Business Act of 1953, as amended, is hereby amended loans. to read as follows: "Provided, That no such loan including renewals and extensions thereof may be made for a period or periods exceeding twenty years: And provided further, That the interest rate on the Administration's share of loans made under this paragraph shall not exceed 3 per centum per annum;" SEC. 3. (a) Subsection (b) of section 207 of the Small Business Act of 1953, as amended, is hereby further amended (1) by striking the word "and" which follows the semicolon at the end of paragraph (3); 70 Stat. 10. (2) by striking the period at the end of paragraph (4) and inserting 70 Stat. 11. in lieu thereof "; and"; and (3) by adding at the end of such subsec tion a new paragraph as follows: "(5) to further extend the maturity of or renew any loan made pursuant to this section, beyond the periods stated therein, or any loan transferred to the Administration pursuant to Reor ganization Plan Numbered 2 of 1954, for additional periods not68 Stat. 1280. to exceed ten years, if such extension or renewal will aid in the5 USC 133z-15. orderly liquidation of such loan." (b) Subsection (f) of section 207 of such Act is hereby repealed.69 Stat. 547. Approved February 2, 1956. To continue the effectiveness of the Act of July 17, 1953 (67 Stat. 177), as amended. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the provisions Armed Forces. of the Act of July 17, 1953 (67 Stat. 177), as amended, shall remain in Construction. effect until six months after the termination of the national emergency 68 Stat. 531. proclaimed by the President on December 16, 1950, or until such date 1173. as may be specified by a concurrent resolution of the Congress, or until July 1, 1957, whichever is earlier. Approved June 21, 1956. (20) 50 USC app. To amend the Small Business Act of 1953 to increase the amount available thereunder for business loans. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the fifth sen tence of section 204 (b) of the Small Business Act of 1953 is amended 70 Stat. 10. to read as follows: "Not to exceed an aggregate of $230,000,000 shall be 15 USC 633. outstanding at any one time for the purposes enumerated in section 207 (a)." SEC. 2. Section 204 (b) of such Act is further amended by striking out "$375,000.000" each place it appears and inserting in lieu thereof "$455,000,000". Approved February 11, 1957. 15 USC 636. 39-290 0-64- 4 (21) |