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B-96983 1 (1979-08-01)

handle is hein.gao/gaobabjiq0001 and id is 1 raw text is: ai~\r COM7r OLtR GELNtRAL OF HE UN*TEO $AT WASHINGroN, 0as. u B-96983 U ..:. AUG 1'1979 The Honorable William Prome.ire Chairman, Committee on Bankif t Housing, and Urban Affairs *WACO United States Senate Dear Mr. Chai-man: You bve requested o ie pretation of sions *&the Defense Production Act of 19501 adt p n ffect of a provision t932A96th Congress). Your letter . indicates that you need an early r cTFonse and therefore we have dispenred with our normal practice of requesting the views of the agencies responsible for administering the legislation In question. Title III of the Defense Production Act of 1950, as amended, 50' . U.S.C. App. 5§ Z091-2094, contains several authorities desiged.' to expand American defense production capacity and to increase the * supply of certain strategic materials. Section 301 of the Act,- 50 U.S.C. App. S Z0?l, permits certain Federal agencies, when authorized by the President, to guarantee loans to Government contractors to enable them to perform contracts made for the pur- poses of the national defense. Section 302 authorizes the Piesi-, dent to make provisions for direct loans to private buslness s for the expansion of capacity, the development of technological processes, or the production of essential materials. Section'303 authorizes the President to purchase strategic materials for Government use or resale, to encourage exploration and develop- ment of strategic minerals and metals, to subsidize the production of strategic materials, and to encourage the production of substitutes for strategic materials which are in short supply. INTERPRETATION OF PROVISO IN SUBSECTIlON 717(a) The proviso in subsection 717(a) of the Act, which was added by section 2 of tho Datense Production Act Amendments of 1975, Pub. L. No. 94-152, 89 Stat. 810, states: * • •That all authority hereby or hereafter extended under title TI1 of this Act shall be effec- tive for any fiscal yc ar only to-such extent or in such amounts as are provided in advance in appro- priation Acts. * * * 43t4

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