U.S. CODE

U.S. Code

§ 1941g. Report of recommended disposal by Commission to Congress

(a) Contents and requirements

Not later than thirty days after the termination of the negotiating period provided in section 7 of this Act [section 1941e of this Appendix], and in no event later than January 31, 1955, the Commission shall prepare and submit to the Congress a report setting forth—

(1) the steps taken to elicit proposals and the proposals which have been received;

(2) the principal terms of all sales contracted for and the Commission’s recommendations in respect thereto;

(3) in the event that there may have been a financially more advantageous proposal for any rubber-producing facility than the sale recommended, a statement of the reasons why such sale is nevertheless proposed;

(4) the statement from the Attorney General setting forth findings approving the proposed disposals in accordance with the standards set forth in section 3(c) of this Act [section 1941a (c) of this Appendix];

(5) the program to be followed to place in standby condition the rubber-producing facilities not sold;

(6) an inventory report concerning the Government’s current stocks of synthetic rubber and its component materials;

(7) a program for the continuance, to the extent it deems necessary, during the fiscal year following the fiscal year in which the transfer period terminates, of the research program on synthetic rubber and its component materials then being carried on by the operating agency; and

(8) the names of persons who have represented the Government or the purchasers in conducting negotiations or in making contracts for disposal of the rubber-producing facilities.

(b) Time of submission of report; period for action by Congress

The report shall be submitted to both Houses of Congress on the same day. Upon the expiration of sixty days of continuous session of the Congress following the date upon which the report is submitted to it, the Commission shall proceed to carry out the contracts and proposals, as outlined in its report, to the extent that such contracts and proposals are not disapproved by either House of Congress by a resolution within the sixty-day period.

For the purposes of subsection (b) of this section—

(1) continuity of session shall be considered as broken only by an adjournment of the Congress sine die; but

(2) in the computation of the sixty-day period there shall be excluded the days on which either House is not in session because of an adjournment of more than three days to a day certain.

(d) Restriction on sale or lease of rubber-producing facilities

No rubber-producing facility shall be sold or leased except in accordance with this Act [sections 1941 to 1941y of this Appendix] or in accordance with section 7(d)(4) of the Rubber Act of 1948, as amended [section 1926 (d)(4) of this Appendix].

(e) Funds for expenses; annual budget

Such sums as may be required for the foregoing purposes may be provided out of the proceeds of disposal, and annual budgets for the expenses necessary for such purposes shall be submitted in accordance with the Government Corporation Control Act of 1945, as amended (59 Stat. 597, 31 U.S.C. 841) [31 U.S.C. 9101 et seq.].

(f) Leases of alcohol-butadiene facilities; requirements; advice of Attorney General

Notwithstanding any other provisions of this Act [sections 1941 to 1941y of this Appendix], the Commission may, after securing the advice of the Attorney General as to whether the proposed lease would tend to create or maintain a situation inconsistent with the antitrust laws, enter into leases for the alcohol-butadiene facilities for a period of not less than one year, nor more than three years: Provided, That any such lease shall contain among other things

(1) a national security clause, and

(2) provisions for the recapture of such facilities by the Government and the termination of the lease, if the President determines that the national interest so requires. Not less than sixty days prior to said lease the Commission shall request such advice from the Attorney General who shall give the same within forty-five days of the receipt of such request.

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