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1 Legislative History of the War Risk Insurance Extension P.L. 94-90 89 STAT.439 (1975)

handle is hein.leghis/legwarskin0001 and id is 1 raw text is: Public Law 94-90 94th Congress, H. R. 8564 August 9, 1975 R 21(t To amend the Federal Aviation Act of 1958 relating to war risk insurance. Be it enacted by the Senate and Hou8e of Representative8 of the United State8 of America in Vongre8s a88embled, That (a) section 1306 War risk in- of the Federal Aviation Act of 1958 (49 U.S.C. 1536) is amended by surance, ex- adding at the end thereof the following new subsection: tension. INVESTMENT OF REVOLVING FUND (f) Upon the request of the Secretary, the Secretary of the Treas- ury may invest all or any part of the revolving fund in interest- bearino' securities of the United States. The interest on, and the proceeas from the sale or redemption of, any securities held in the revolving fund shall be credited to and form a part of the revolving fund.. (b) That portion of the table of contents contained in the first section of such Act which appears under - (1) the center heading -TITLE XIII-WAR RISK INSURANCE is amended by striking out Sec. 1306. Collection and disbursement of funds. and by inserting in lieu thereof -Sec. 1306. Collection, disbursement, and investment of funds.; and (2) the side heading -Se. 1306. Collection, disbursement, and investment of funds. is amended by adding at the end thereof the following: (f) Investment of revolving fund.. (c) The section heading of section 1306 of such Act is amended by striking out COLLECTION AND DISBURSEMENT OF FUNDS and inserting in lieu thereof COLLECTION, DISBURSEMENT, AND INVESTMENT OF FuNDS. SEC. 2. Section 1312 of the Federal Aviation Act of 1958 (49 U.S.C. 1542) is amended by striking out September 7, 1975, and inserting in lieu thereof May 7, 1976. SEC. 3. (a) The President shall conduct a full and complete investi- Investigation gation and study of the possible expansion of the war risk insurance and study. authorized by title XIII of the Federal Aviation Act of 1958 (49 49 USC 1531 U.S.C. 1531 et seq.), and by other provisions of law, to provide cover- note. age for losses and damage resulting from riots, civil disorder, hijack- ing, or other similar acts. (b) In carrying out this section, the President shall consult with. the Secretaries of Transportation, Defense, and State, and the heads of such other departments, agencies, and instrumentalities of the Federal Government as he determines necessary. 89 STAT. 439

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