Volume 69 · 448
Public Law 84–216
To extend the Renegotiation Act of 1951 for two years.
Approved August 3, 1955
Statutory text
AN ACT
To extend the Renegotiation Act of 1951 for two years.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That subsection (a) of section 102 of the Renegotiation Act of 1951 (50 U. S. C., App., sec. 1212 (a)) is hereby amended by striking out “December 31, 1954” and inserting in lieu thereof “December 31, 1956”.
Sec. 2.
Subsection (d) of section 102 of the Renegotiation Act of 1951 (50 U. S. C., App., sec. 1212 (d)) is hereby amended by
inserting after “title” each place it appears “or would be subject to this title except for the provisions of section 106 (a) (8)”.
The amendments made by subsection (a) shall apply to contracts with the Departments and subcontracts only to the extent of the amounts received or accrued by a contractor or subcontractor after December 31, 1953.
Sec. 3.
Section 106 (a) (8) of such Act (50 U. S. C., App., sec. 1216 (a) (8)) is hereby amended as follows:
By inserting after “a standard commercial article” in the first sentence thereof “or a standard commercial service”;
By inserting after “such article” each place it appeal’s in the first and second sentences thereof “or such service”;
By striking out “and” at the end of subparagraph (C);
By redesignating subparagraph (D) to be subparagraph (G); and
By inserting after subparagraph (C) the following:
“(D) the term ‘service’ means any processing or other operation performed by chemical, electrical, physical, or mechanical methods directly on materials owned by another person;
“(E) the term ‘standard commercial service’ means a service which is customarily performed by more than two persons for general civilian industrial or commercial requirements, or is reasonably comparable with a service so performed;
“(F) the term ‘reasonably comparable’ means of the same or a similar kind, performed with the same or similar materials, and having the same or a similar result, without necessarily involving identical operations; and”.
The amendments made by subsection (a) shall apply to contracts with the Departments and subcontracts only to the extent of the amounts received or accrued by a contractor or subcontractor after December 31, 1953.
Sec. 4.
Section 106 (a) of such Act (50 U. S. C., App., sec. 1216 (a)) is hereby amended—
by striking out the period at the end of paragraph (8) and inserting in lieu thereof “; or”; and
by adding at the end thereof a new paragraph as follows:
“(9) any contract, awarded as a result of competitive bidding, for the construction of any building, structure, improvement, or facility, other than a contract for the construction of housing financed with a mortgage or mortgages insured under the
provisions of title VIII of the National Housing Act, as now or hereafter amended.”
The amendments made by subsection (a) shall apply only to contracts with the Departments made after December 31, 1954.
Sec. 5.
Section 106 (c) (2) of such Act (50 U. S. C., App., sec. 1216 (c) (2)) is hereby amended to read as follows:
“(2) Definitions.—
For the purpose of this subsection, the term ‘durable productive equipment; means machinery, tools, or other productive equipment, which has an average useful life of more than five years.”
The amendment made by subsection (a) shall apply only with respect to fiscal years (as defined in section 103 (h) of the
Joint Committee on Internal Revenue Taxation.
Study.
Renegotiation Act of 1951) ending on or after June 30, 1953.
Sec. 6.
The Joint Committee on Internal Revenue Taxation, or any duly authorized subcommittee thereof, is hereby authorized and directed to make a complete study in order to determine—
whether there is any necessity of extending the Renegotiation Act of 1951 beyond December 31, 1956; and
if any such further extension is found necessary, the extent, to which renegotiation of Government contracts should apply after such date.
The Joint Committee shall, not later than May 31, 1956, report
Report.
to the Senate and the House of Representatives the results of the study conducted pursuant to this section, together with such recommendations as it deems necessary or desirable.
For the purpose of making the study and report required by this section, the Joint Committee, and the Chief of Staff of the Joint Committee, may exercise any of the powers conferred upon the Joint Committee and the Chief of Staff of the Joint Committee by sections
68A Stat. 927, 928.
8021 and 8023 of the Internal Revenue Code of 1954. The provisions of section 8023 (b) of such Code shall apply to requests made under the authority of this subsection to the same extent as in the case of other requests made under the authority of section 8023 (a) of such Code.
Approved August 3, 1955.