AND INVESTMENT ACT WITH AMENDMENTS 1953-64 Compiled by GILMAN G. UDELL Superintendent, House Document Room U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1964 For sale by the Superintendent of Documents, U.S. Government Printing Office Page Pub. Law No. 163, 83d Cong., approved July 30, 1953. To dissolve the Reconstruction Finance Corporation, to establish the Small Business Administration__. Pub. Law No. 119, 84th Cong., approved June 30, 1955. To extend for temporary periods certain housing programs, the Small Business Act of 1953, and the Defense Production Act of 1950-- Pub. Law No. 268, 84th Cong., approved Aug. 9, 1955. To amend the Small Pub. Law No. 402, 84th Cong., approved Feb. 2, 1956. 204 and 207 of the Small Business Act of 1953. Pub. Law No. 605, 84th Cong., approved June 21, 1956. To continue the Pub. Law No. 4, 85th Cong., approved Feb. 11, 1957. To amend the Small Business Act of 1953 to increase the amount available thereunder of Pub. Law No. 19 (Extract), 85th Cong., approved Apr. 20, 1957. additional appropriations for the Small Business Administration for the Pub. Law No. 120, 85th Cong., approved Aug. 3, 1957. To amend and extend the Small Business Act of 1953, as amended_. Pub. Law No. 170, 85th Cong. (Extract), approved Aug. 28, 1957. Making appropriations for the Small Business Administration for the fiscal Pub. Law No. 335, 85th Cong., approved Feb. 22, 1958. To provide for small business disaster loans in areas affected by excessive rainfall____ Pub. Law No. 457 (Extract), 85th Cong., approved June 13, 1958. Making additional funds for the Small Business Administration for the fiscal Pub. Law No. 536, 85th Cong., approved July 18, 1958. To amend the Small Business Act of 1953, as amended___ Pub. Law No. 699, 85th Cong., approved Aug. 21, 1958. To make equity capital and long-term credit more readily available for small business concerns, and for other purposes--- Pub. Law No. 766 (Extract), 85th Cong., approved Aug. 27, 1958. Making supplemental appropriations for the Small Business Administration for the fiscal year ending June 30, 1959---. Pub. Law No. 767 (Extract), 85th Cong., approved Aug. 27, 1958. Par- Pub. Law No. 800, 85th Cong., approved Aug. 28, 1958. To improve oppor- tunities for small business concerns to obtain a fair proportion of Government purchases and contracts, to facilitate procurement of prop- erty and services by the Government_. Pub. Law No. 866 (Extract), 85th Cong., approved Sept. 2, 1958. To amend the Internal Revenue Act of 1954 having to do with losses on small business investment company stock---- Pub. Law No. 30 (Extract), 86th Cong., approved May 20, 1959. Making supplemental appropriations for the Small Business Administration for the fiscal year ending June 30, 1959. Pub. Law No. 88 (Extract), 86th Cong., approved July 13, 1959. Making appropriations for the Small Business Administration for the fiscal year Pub. Law No. 166 (Extract), 86th Cong., approved Aug. 18, 1959. Making Pub. Law No. 367, 86th Cong., approved Sept. 22, 1959. To amend the Pub. Law No. 376, 86th Cong., approved Sept. 23, 1959. To amend the Internal Revenue Code of 1954 to provide a personal exemption for children placed for adoption and to clarify certain provisions relating to the election of small business corporations as to taxable status__. Pub. Law No. 451 (Extract), 86th Cong., approved May 13, 1960. Making appropriations for the Small Business Administration for the fiscal year Pub. Law No. 502, 86th Cong., approved June 11, 1960. To amend the Pub. Law No. 601 (Extract), 86th Cong., approved July 7, 1960. Making Pub. Law No. 125 (Extract), 87th Cong., approved Aug. 3, 1961. Making appropriations for the Small Business Administration for the fiscal year Pub. Law No. 198, 87th Cong., approved Sept. 5, 1961. To amend the Small Business Act to increase by $20 million the amount available for regular business loans thereunder__- Pub. Law No. 305, 87th Cong., approved Sept. 26, 1961. Small Business Pub. Law No. 341, 87th Cong., approved Oct. 3, 1961. Small Business Pub. Law No. 550, 87th Cong., approved July 25, 1962. To amend the Pub. Law No. 843 (Extract), 87th Cong., approved October 18, 1962. Making appropriations for the Departments of State, Justice, and Com- merce, the Judiciary, and related agencies for the fiscal year ending Pub. Law No. 245 (Extract), 88th Cong., approved December 30, 1963. Making appropriations for the Departments of State, Justice, and Com- merce, the Judiciary, and related agencies for the fiscal year ending Pub. Law No. 527 (Extract), 88th Cong., approved August 31, 1964. Mak- ing appropriations for the Departments of State, Justice, and Commerce, the Judiciary, and related agencies for the fiscal year ending June 30. To dissolve the Reconstruction Finance Corporation, to establish the Small Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, TITLE I SEC. 101. This title may be cited as the "Reconstruction Finance RFC LiquidaCorporation Liquidation Act". tion Aot. SEC. 102. (a) The first sentence of section 3 (a) of the Reconstruc- Succession. tion Finance Corporation Act, as amended (15 U. S. C. 603 (a)), is 62 Stat. 262. amended by striking out "June 30, 1956" and inserting in lieu thereof “June 30, 1954". (b) Subsection (f) of section 4 of the Reconstruction Finance Cor- Loans, termiporation Act, as amended (15 U. S. C. 604 (f)), is amended by striking nation. out "June 30, 1954" and inserting in lieu thereof "the sixtieth day after 62 Stat. 265. the date of enactment of the Reconstruction Finance Corporation Liquidation Act". (c) Except as otherwise provided in this title, the liquidation of Procedure. assets and winding up of affairs of the Reconstruction Finance Corporation shall be carried out as expeditiously as possible in accordance with the provisions of sections 9 and 10 of the Reconstruction Finance 61 Stat. 205. Corporation Act. 15 USC 608,609. (d) The Secretary of the Treasury is authorized to incur and pay Administrative out of the funds of the Corporation all administrative expenses neces- expenses. sary to carry out the functions vested in him as a result of the enactment of this title. Such expenses shall be limited to and charged against amounts made available to the Corporation or to the Secretary of the Treasury in appropriation Acts for applicable administrative expenses, which amounts shall not include any sums transferred to an officer or agency of the Government, other than the Secretary of the Treasury. The activities engaged in by the Secretary of the Treasury as a result of the enactment of this Act shall continue to be subject to the provisions of the Government Corporation Control Act. 59 Stat. 597. SEC. 103. Section 2 of the joint resolution entitled "Joint resolution 31 USC 841 note. to strengthen the common defense and to meet industrial needs for Tin-smelting tin by providing for the maintenance of a domestic tin-smelting in- industry. industry", approved June 28, 1947 (61 Stat. 190), is amended by striking out "the Reconstruction Finance Corporation while that Cor- 67 Stat. 230. poration has succession, and thereafter by". 50 USC 98 note. 67 Stat. 231. SEC. 104. Effective on the sixtieth day after the date of enactment Transfer of of this Act, all functions, powers, duties, and authority of the Recon- functions to struction Finance Corporation under section 409 of the Federal Civil Treasury. Defense Act of 1950, together with those assets, funds, contracts, loans, 64 Stat. 1257. liabilities, commitments, authorizations, allocations, personnel, and 50 USC app. records of the Reconstruction Finance Corporation which the Direc- 2261. tor of the Bureau of the Budget shall determine to be primarily related to, and necessary for, the exercise of such functions, powers, duties, and authority, are transferred to the Secretary of the Treasury, and shall be performed, exercised, and administered by the Secretary in accordance with the provisions of such Act. SEC. 105. No suit, action, or other proceeding lawfully commenced by Pending suits, or against the Reconstruction Finance Corporation shall abate by eto. reason of the termination of succession of the Corporation; but the court may, on motion or supplemental petition filed at any time within twelve months after the date of such termination of succession and |