Joint resolution to extend termination date of Export-Import Bank.
PL 93-425 (S.J.Res.244), enacted 09/30/1974

1166 
PUBLIC LAW 93-424-SEPT. 27, 1974 
[88 STAT. 
42 u s e 3245. 
AUTHORIZATION OF APPROPRIATIONS 
"SEC. 905. There is authorized to be appropriated to carry out this 
title not to exceed $75,000,000 for the fiscal year ending June 30,1975, 
and $100,000,000 for the fiscal year ending June 30,1976." 
Approved September 27, 1974. 
September 27, 1974 
[H. J. Res. 910] 
Public Law 93-424 
JOINT RESOLUTION 
Asking the President of the United States to declare the fourth Saturday of 
September, 1974, "National Hunting and Fishing Day". 
National Hunt-
ing and Fishing 
Day. 
Designation 
authorization. 
Resolved hy the Senate and House of Representatives 
of the United 
States of America in Congress assembled, That the President of the 
United States declare the fourth Saturday of September, 1974, as 
"National Hunting and Fishing Day" to provide that deserved 
national recognition, to recognize the esthetic, health, and recreational 
virtues of hunting and fishing, to dramatize the continued need for gun 
and boat safety, and to rededicate ourselves to the conservation and 
respectful use of our wildlife and natural resources. 
Approved September 27, 1974. 
September 30, 1974 
[S. J. Res. 244] 
Public Law 93-425 
JOINT RESOLUTION 
To extend termination date of Bxi)ort-Import Bank. 
Ante, 
p. 445. 
Resolved hy the SenMe and House of Representatives 
of the United 
States of America in Congress assembled, That section 8 of the Export-
Import Bank Act of 1945 (12 U.S.C. 635f) is amended by striking 
"September 30, 1974" and inserting in lieu thereof "October 15,1974". 
Approved September 30, 1974. 
September 30, 1974 
[S. 3270] 
Public Law 93-426 
AN ACT 
To amend the Defense Production Act of 1950 and to establish a National 
Commission on Supplies and Shortages Act of 1974. 
Defense Pro-
duction Act 
Amendments of 
1974. 
50 u s e app. 
2094 note. 
Repeal. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That this Act may 
be cited as the "Defense Production Act Amendments of 1974". 
SEC. 2. (a) Subsection (b) of section 304 of the Defense Production 
Act of 1950, as amended (50 U.S.C. App. 2094), is repealed. 
(b) Such section 304 is amended by adding at the end thereof the 
following new subsections: 
88 STAT. ] 
PUBLIC LAW 93-426-SEPT. 30, 1974 
1167 
"(b) The Secretary of the Treasury is authorized and directed to 
cancel the outstanding balance of all unpaid notes issued to the Secre-
tary of the Treasury pursuant to this section, together with interest 
accrued and unpaid on such notes. 
"(c) Any cash balance remaining on June 30,1974, in the borrowing 
authority previously authorized by this section, and any funds there-
after received on transactions heretofore or hereafter entered into 
pursuant to sections 302 and 303 shall be covered into the Treasury 
^o use app. 
^ 
• 
^^ 
• i 
5? 
2092, 2093. 
as miscellaneous receipts. 
SEC. 3. Section 711 of the Defense Production Act of 1950 (50 
U.S.C. App. 2161) is amended— 
(1) by inserting " (a)" after "SEC. 711."; 
(2) by inserting "(including sections 302 and 303 and for pay-
ment of interest under subsection (b) of this section)" after "Act" 
the first place the term appears; and 
(3) by adding at the end thereof the following new subsection: 
"(b) Interest shall accrue on (1) the cumulative amount of dis-
bursements to carry out the purposes of sections 302 and 303 (except 
for storage, maintenance, and other operating and administrative 
expenses), plus any unpaid accrued interest, less the cumulative 
amount of any funds received on transactions entered into pursuant to 
sections 302 and 303 and any net losses incurred by an agency in 
carrying out its functions under sections 302 and 303 when the head 
of the agency determines that such net losses have occurred; and (2) 
the current market value of the inventory of materials procured under 
section 303 as of the first day of each fiscal year commencing with the 
fiscal year beginning July 1,1975. At the close of each fiscal year there 
shall be deposited into the Treasury as miscellaneous receipts, from 
any amounts appropriated under this section, an amount which the 
Secretary of the Treasury determines necessary to provide for the 
payment of any interest accrued and unpaid under this subsection. The 
rate of such interest shall be determined by the Secretary of the 
Treasury, taking into consideration the average market yield during 
the month preceding each fiscal year on outstanding marketable obli-
gations of the United States with one year remaining to maturity.". 
SEC. 4. The first sentence of section 717(a) of the Defense Produc-
tion Act of 1950 (50 U.S.C. App. 2166(a)) is amended by striking 
out "June 30, 1974" and inserting in lieu thereof "June 30, 1975". 
SEC. 5. The Defense Production Act of 1950 is amended by adding 
at the end thereof the following new section: 
"NATIONAL COMMISSION ON SUPPLIES AND SHORTAGES 
"SEC. 
720. (a) SHORT TITLE.—This section may be cited as the 
'National Commission on Supplies and Shortages Act of 1974'. 
"(b) FINDINGS.— (1) The United States is increasingly dependent 
on the importation from foreign nations of certain natural I'esources 
vital to commerce and the national defense. 
"(2) Nations that export such resources can alone or in association 
with other nations arbitrarily raise the prices of such resources to 
Interest rate,. 
50 use 
2061. 
Nations 
app. 
1 Com-
mission on Sup-
plies and Short-
ages Act 
S
O use 
2169. 
of 1974 
app. 
1168 
PUBLIC LAW 93-426-SEPT. 30, 1974 
[88 STAT. 
National Com-
mission on Sup-
plies and Short-
ages. 
Establishment; 
membership. 
Appointments. 
83 Stat. 863. 
Expenses, re-
imbursement. 
levels which are uni'easonable and disiuptiv^e of domestic and foreign 
economies. 
"(3) Shortages of resources and commodities are becojning increas-
ingly fi-equent in the United States, and such shortages cause undue 
inconvenience and expense to consumers and a burden on interstate 
commerce and the Nation's economy. 
"(4) Existing institutions do not adequately identify and antici-
pate such shortages and do not adequately monitor, study, and analyze 
other market adversities involving specific industries and specific 
sectors of the economy. 
"(5) Data Avith respect to such shortages and adversities is collected 
in various agencies of the Government for various purposes, but is not 
systematically coordinated and disseminated to the appropriate agen-
cies and to the Congi'ess. 
" (c) PURPOSES.—It is the purpose of this Act to establish a national 
commission to facilitate more effective and informed responses to 
resource and commodity shortages and to report to the President and 
the Congress on needed institutional adjustments for examining and 
predicting shortages and on the existence or possibility of shortages 
with respect to essential resources and connnodities. 
''(d) ESTABLISHMENT OF COMMISSIOX.—There is established as an 
independent instr-umentality of the Federal Government a National 
Commission on Supplies and Shortages (hereinafter referred to as 
the 'Commission'). The Commission shall be comprised of thirteen 
members selected for such period of time as such Commission shall 
continue in existence (except that any individual appointed to fill a 
vacancy occurring prior to the expiration of the term for which his 
predecessor was appointed shall be appointed for the i-emainder of 
such term) as follows: 
"(1) The President, in consultation with the majority and 
minority leaders of the Senate and the majority and minority 
leaders of the House of Repi'esentatives, shall appoint five mem-
bers of the Commission from among persons in private life; 
''(2) The President shall designate four senior officials of the 
executive branch to serve without additional compensation; 
"(3) The President of the Senate, after consultation with the 
majority and minority leaders of the Senate, shall appoint two 
Senator's to be members of the Commission and the Speaker of 
the House of Representatives, after consultation with the majority 
and minority leaders of the House of Representatives, shall 
appoint two Representatives to be members of the Commission to 
serve without additional compensation. 
"(e) CHAIRMAN AND VICE CHAIRMAN.—The Pi-esident, in consulta-
tion with the majority and minority leaders of the Senate and the 
House of Repi'esentatives shall designate a Chaii'man and Vice Chair-
man of the Commission. 
"'(f) COMPENSATION.—Each member of the Commission appointed 
pursuant to subsection (d)(1) of this section shall be entitled to be 
compensated at a rate equal to the per diem equivalent of the rate 
for an individual occupying a position under level I I I of the Execu-
tive Schedule under section 5314 of title 5, United States Code, when 
engaged in the actual performance of duties as such a member, and 
all members of the Commission shall be entitled to reimbursement for 
88 STAT.] 
PUBLIC LAW 93-426-SEPT. 30, 1974 
1169 
travel, subsistence, and other necessary expenses incurred in the 
performance of their duties, 
"(sr) FUNCTIONS or THE COMMISSION.—It shall be the function of ,H^T°'V?-J'''^" 
• 
1 
i T ~ > * i 
i j _ j - i / ^ 
l u e n t and Con-
the Commission to make reports to the President and to the Congress gress. 
with respect to— 
"(1) the existence or possibility of any long- or short-term 
contents. 
shortages; employment, price or business practices; or market 
adversities affecting the supply of any natural resources, raw 
agriculture 
commodities, materials, manufactured 
products 
(including any possible impairment of productive capacity which 
may result from shortages in materials, resources, commodities, 
manufactured products, plant or equipment, or capital invest-
ment, and the causes of such shortages, practices, or adversities) ; 
"(2) the adverse impact or possible adverse impact of such 
shortages, practices, or adversities upon consumers, in terms of 
price and lack of availability of desired goods; 
"(3) the need for, and the assessment of, alternative actions 
necessary to increase the availability of the items referred to in 
paragraph (1) of this subsection, to correct the adversity or prac-
tice affecting the availability of any such items, or otherwise 
to mitigate the adverse impact or possible adverse impact of 
shortages, practices, or adversities upon consumers referred to in 
paragraph (2) of this subsection; 
"(4) existing policies and practices of Government which may 
tend to affect the supply of natural resources and other com-
modities ; 
"(5) necessary legislative and administrative actions to develop 
a comprehensive strategic and economic stockpiling and inven-
tories policies which facilitates the availability of essential 
resources; 
"(6) the means by which information with respect to para-
graphs (1), (2), (3), (4) of this subsection can be most 
effectively and economically gathered and coordinated. 
"(h) REPORTS OF THE COMMISSION.—The Commission shall report 
not later than March 1, 1975, to the President and the Congress on 
specific recommendations with respect to institutional adjustments, 
including the advisability of establishing an independent agency to 
provide for a comprehensive data collection and storage system, to 
aid in examination and analysis of the supplies and shortages in the 
economy of the United States and in relation to the rest of the world. 
The Commission may, until June 30, 1975, prepare, publish and trans-
mit to the President and the Congress such other reports and recom-
mendations as it deems appropriate. 
"(i) ADVISORY COMMITTP:E.— (1) The Commission is authorized to 
Establishment. 
establish such advisory committees as may be necessary or appropriate 
to carry out any specific analytical or investigative undertakings on 
behalf of the Commission. Any such committee shall be subject to the 
relevant provisions of the Federal Advisory Committee Act. 
s use app. i. 
"(2) The Commission shall establish an advisory committee to 
develop recommendations as to the establishment of a policy making 
process and structure within the executive and legislative branches of 
the Federal Government as a means to integrate the study of supplies 
and shortages of resources and commodities into the total problem of 
balanced national growth and development, and a system for coordi-
nating these efforts with appropriate multi-State, regional and State 
governmental jurisdictions. For the purpose of carrying out the pro- 
Appropriation. 
vision of this paragraph there is authorized to be appropriated not to 
exceed $75,000 for the fiscal year ending June 30, 1975. 
1170 
PUBLIC LAI 93-427-OCT. 1, 1974 
[88 STAT. 
83 Stat. 863. 
5 u s e 101 e( 
seq. 
5 u s e 5101, 
5331. 
5 u s e 5332 
note. 
Hearings. 
Data, reports, 
and other infor-
mation, avail-
ability. 
u s e prec. 
title 1. 
"(i) STAFF AND POWERS OF THE COMMISSION.— (1) Subject to such 
rules and regulations as it may adopt, the Commission, through its 
Chairman, shall— 
"(A) appoint and fix the compensation of an Executive 
Director at the rate provided for level I I I of the Executive 
Schedule under section 5314 of title 5, United States Code, and 
such additional staff personnel as is deemed necessary, without 
regard to the provisions of title 5, United States Code, governing 
appointments in the competitive service, and without regard to 
chapter 51, and subchapter I I I of chapter 53 of such title relat-
ing to classification and the General Schedule under section 5332 
of such title; and 
"(B) be authorized to procure temporary and intermittent 
services to the same extent as is authorized by section 3109 of 
title 5, United States Code. 
"(2) The Commission or any subcommittee thereof is authorized 
to hold hearings and to sit and act at such times and places, as it may 
deem advisable. 
"(k) ASSISTANCE OF GOVERNMENT AGENCIES.—Each department, 
agency, and instrumentality of the Federal Government, including 
the Congress, consistent with the Constitution of the United States, 
and independent agencies, is authorized and directed to furnish to 
the Commission, upon request made by the Chairman, such data, 
reports, and other information as the Commission deems necessary 
to carry out its functions under this Act. 
"(1) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to 
be appropriated to the Commission not to exceed $500,000 for the 
fiscal Year ending June 30, 1975, to carry out the provisions of this 
Act." ^ 
Approved September 30, 1974. 
October 1, 1974 
[S.3301] 
Public Law 93-427 
AN ACT 
To amend the Act of October 27,1972 (Public Law 92-578). 
Pennsylvania 
Avenue Develop-
ment eorporation 
Act of 1972, 
amendment. 
40 u s e 871 
note. 
40 u s e 873. 
5 u s e 5332 
note. 
40 u s e 876. 
40 u s e 885. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That the Act of 
October 27, 1972 (86 Stat. 1266), is hereby amended as follows: 
1. By designating subsection 4(b) to be subsection 4:(c), and by 
adding a new subsection 4 (b) to read as follows: 
" (b) The Board of Directors is authorized to procure the temporary 
(not in excess of one year) or intermittent services of city planners, 
architects, engineers, appraisers, and other experts or consultants or 
organizations thereof in accordance with section 3109 of title 5, United 
States Code, but at rates for individuals not in excess of the rate in 
effect for grade GS-18 of the General Schedule.". 
2. In subsection 7(b), 
(i) delete "this Act," and insert "the Act to amend the Act of 
October 27,1972 (86 Stat. 1266),"; 
(ii) delete "within twelve months of the date of enactment of 
this Act," and insert "by June 30,1975,". 
3. In section 17, delete "$1,000,000" and insert "$1,750,000 for the 
operating and administrative expenses of the Corporation and". 
Approved October 1, 1974.