Public Law 90–370

That section 717(a)

Defense Production Act, extension.

65 Stat. 144; 80 Stat. 235.

50 USC app. 2166.

50 USC app. 2162.

Uniform cost accounting standards, feasibility study.

of the Defense Production Act of 1950 is amended by striking out “June 30, 1968” in the first sentence and inserting in lieu thereof “June 30, 1970”.

Sec. 2.

Section 712(e) of the Defense Production Act of 1950 is amended by striking out “$85,000” and inserting in lieu thereof “$100,000”.

Sec. 3.

Title VII of the Defense Production Act of 1950 is amended by adding at the end thereof the following new section:

“Sec. 718.

The Comptroller General, in cooperation with the Secretary of Defense and the Director of the Bureau of the Budget, shall undertake a study to determine the feasibility of applying uniform cost accounting standards to be used in all negotiated prime contract and subcontract defense procurements of $100,000 or more. In carrying out such study the Comptroller General shall consult with representatives of the accounting profession and with representatives of that segment of American industry which is actively engaged in defense contracting. The results of such study shall be reported to the

Reports to congressional committees.

Committees on Banking and Currency and the Committees on Armed Services of the Senate and House of Representatives at the earliest practicable date, but in no event later than eighteen months after the date of enactment of this section.”

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