An Act to authorize the release of platinum from the national stockpile, and for other purposes
PL 89-390 (S.2642), enacted 04/14/1966

116 
PUBLIC LAW 89-390-APRIL 14, 1966 
[80 STAT. 
'•(2) TERMIXATIOX.—If a revocation under paragraph (1) of 
an election under subsection (a) with respect to any unincor-
porated business enterprise is not effective on or before December 
31, 1968, such election shall terminate on January 1, 1969, and 
such enterprise shall not be considered a domestic corporation 
for any period on or after January 1, 1969." 
Effective date. 
(b) Effcctive ou Jauuary 1,1969— 
(1) subchapter R of chapter 1 of such Code (relating to elec-
tion of certain partnerships and proprietorships as to taxable 
status) is repealed; 
68A Stat. 4. 
^2) the table of subchapters for chapter 1 of such Code is 
amended by striking out the item relating to subchapter R; .and 
(3) section 1504(b) of such Code (relating to definition of 
includible corporation) is amended by striking out paragraph 
Applicability. 
(c) The amendments made by subsections (a) (2) and (4) shall 
apply with respect to transactions occurring after the date of the 
enactment of this Act. 
Approved April 14, 1966. 
Public Law 89-390 
April 14, 1966 
^N ACT 
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- 2642] 
TQ authorize the release of platinum from the national stockpile, and for other 
purposes. 
Disposal. 
60 Stat. 596. 
Be it enacted hy the Senate and House of Representatives 
of the 
nil^,^!""?' 
United States of America in Congress assembled^ That the Adminis-
trator of General Services is hereby authorized to dispose of, by 
negotiation or otherwise, approximately three hundred sixteen thou-
sand three hundred ounces of platinum from the national stockpile 
established pursuant to the Strategic and Critical Materials Stock 
Piling Act (50 U.S.C. 98-98h). 
Such disposition may be made with-
out regard to the provisions of section 3 of the Strategic and Critical 
Materials Stock Piling Act: Provided^ That the time and method of 
disposition shall be fixed with due regard to the protection of the 
r'nited States against avoidable loss and the protection of producers, 
processors, and consumers against avoidable disruption of their usual 
markets. 
SEC. 2. The platinum covered by this Act, materials in the inventory 
maintained under the Defense Production Act of 1950, as amended 
64 Stat. 798. 
^59 U.S.C. App. 2061-2166), and materials in the national stockpile 
73 Stat. 607. 
.^nd the supplemental stockpile (7 U.S.C. 1704(b)) the disposition of 
which has been or may hereafter be authorized pursuant to law, shall 
be available, without reimbursement, for transfer at fair market value 
in payment of the purchase price and other expenses of acquisition 
(including transportation and other accessorial expenses) of pal-
ladium for the national stockpile. No acquisition of palladium shall 
be made pursuant to the authority of this section if, as a result of such 
acquisition, the aggregate quantity of palladium in the national stock-
pile and the supplemental stockpile would exceed the palladium stock-
I)ile objective established pursuant to the Strategic and Critical Mate-
rials Stock Piling Act. 
Approved April 14, 1966.