An Act to restore the investment credit and the allowance of accelerated depreciation in the case of certain real property
PL 90-26 (H.R.6950), enacted 06/13/1967

81 
STAT.] 
PUBLIC LAW 90-26-JUNE 13, 1967 
57 
Public Law 90-25 
AN ACT 
To authorize the Admiiiistratoi" of Veterans* Affairs to convey certain 
proi)erty to the city of Batavia, New York. 
real 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America, in Congress assembled. That the Adminis-
trator of Veterans' Affairs shall convey by quitclaim deed, without 
monetary consideration, to the city of Batavia, Xew York, all right, 
title, and interest of the United States in and to certain real property 
consisting of forty-four acres, more or less, at the Veterans' Adminis-
tration Hospital, Batavia, New York, which has been determined to be 
in excess of the needs of the Veterans' Administration and surplus to 
the needs of all other Federal agencies. Such real property was donated 
to the United States by the city of Batavia, IVew York, and the county 
of Genesee, New York. The exact legal description of the real property 
to be conveyed pursuant to this Act shall be determined by the Admin-
istrator of Veterans' Affairs. 
SEC. 2. Any deed of conveyance made pursuant to this Act shall— 
(a) provide that the land conveyed shall be used by the city of 
Batavia, New York, in a manner that will not, in the judgment 
of the Administrator of Veterans' Affairs, or his designate, inter-
fere with the care and treatment of patients in the Veterans' 
Administration Hospital, Batavia, New York; 
(b) contain such additional terms, conditions, reservations, 
easements, and restrictions as may be determined by the Admin-
istrator of Veterans' Affairs to be necessary to protect the interest 
of the United States; 
(c) provide that if the city of Batavia, New York, violates any 
provision of the deed of conveyance or alienates or attempts to 
alienate all or any part of the parcel so conveyed, title thereto shall 
revert to the United States; and that a determination by the 
Administrator of Veterans' Affairs of any such violation or 
alienation or attempted alienation shall be final and conclusive; 
and 
(d) provide that in the event of such reversion improvements 
shall vest in the United States without payment of compensation 
therefor. 
Approved June 7, 1967. 
June 7, 1967 
[H. R. 399] 
Batavia, N. Y. 
Land convey-
Provisions. 
Public Law 90-26 
AN ACT 
To restore the investment credit and the allo\vanc*e of accelerated depreciation 
ill the case of certain real property. 
June 13, 1967 
[H. R. 6950] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled,, That sections 48(j) 
and 167(i) (3) of the Internal Revenue Code of 1954 (defining sus-
pension period) are each amended by striking out "December 31,1967" 
and inserting in lieu thereof "March 9, 1967". 
SEC. 2. (a) Section 48(h) (2) of the Internal Revenue Code of 1954 
(defining suspension period property) is amended by striking out 
subparagraphs (A) and (B) and inserting in lieu thereof the 
following: 
"(A) the physical construction, reconstruction, or erection 
of which (i) is begun during the suspension period, or (ii) is 
Real property. 
80 Stat. 1513. 
26 u s e 48, 167. 
Investment 
credit. 
58 
PUBLIC LAW 90-27-JUNE 16, 1967 
[81 STAT. 
Depreciation 
allowance. 
76 Stat. 967. 
Effective date. 
Presidential 
Election Cam-
paign Fund Act of 
1966, guidelines. 
80 Stat. 1587. 
begun, })iii-siiant to an order placed during such period, before 
May 24, 196^7, or 
"(B) which (i) is acquired by the taxpayer during the 
susi^ension period, or (ii) is acquired by the taxpayer, pur-
suant to an order phiced during such period, before May 24, 
1967. 
In applying subparagraph (A) to any section 38 property, there 
shall be taken into accoimt only that portion of the basis which is 
properly attributable to construction, reconstruction, or erection 
before May 24, 1967." 
(b) Section 167(i) (1) of such Code (relating to limitation on cer-
tain methods of depreciation) is amended— 
(1) by striking out "if—" and all that follows in the first sen-
tence and inserting in lieu thereof the following: "if the physical 
construction, reconstruction, or erection of such property by any 
person begins during the suspension period, or begins, pursuant 
to an order placed during such period, before May 24,1967."; and 
(2) by adding at the end thereof the following new sentence: 
"In applying this paragraph to any property, there shall be taken 
into account only that portion of the basis which is properly 
attributable to construction, reconstruction, or erection before 
May 24, 1967." 
SEC. 3. Section 48(a)(2) of the Internal Revenue Code of 1954 
(relating to property used outside the United States) is amended by 
inserting before the semicolon at the end of subparagraph (B) (i) "or 
is operated under contract with the United States". 
SEC. 4. The amendments made by the first three sections of this Act 
shall apply to taxable years ending after March 9,1967. 
SEC. 5. (a) Funds which become available under the Presidential 
Election Campaign Fund Act of 1966 shall be appropriated and 
disbursed only after the adoption by law of guidelines governing their 
distribution. Section 6096 of the Internal Revenue Code of 1954 shall 
become applicable only after the adoption by law of such guidelines. 
(b) Guidelines adopted in accordance with this section shall state 
expressly that they are intended to comply with this section. 
Approved June 13, 1967. 
Public Law 90-27 
June 16, 1967 
J O I N T RESOLUTION 
[S. J. Res. 58] 
rp^j provide foi- the reappointment of .Teronie C. Hunisalter as Citizen Regent of 
the Board of Regents of the Smithsonian Institution. 
Smithsonian 
Institution. 
Resolved hy the Senate and House of RepreHentatheH of the United 
States of America in Congress assemhled. That the vacancy in the 
Board of Regents of the Smithsonian Institution, of the class other 
than Members of Congress, occurring by the expiration of the term 
of Jerome C. Hunsaker, of Boston, Massachusetts, on March 29, 1967, 
be filled by the reappointment of the present incumbent for the 
statutory term of six years. 
Approved June 16, 1967.