The text of the bill below is as of Jun 13, 1967 (Passed Congress).
81 STAT.] PUBLIC LAW 90-26-JUNE 13, 1967 57 Public Law 90-25 AN ACT J u n e 7, 1967 To authorize the Admiiiistratoi" of Veterans* Affairs to convey certain real [H. R. 399] proi)erty to the city of Batavia, New York. Be it enacted hy the Senate and House of Representatives of the United States of America, in Congress assembled. That the Adminis- B a t a v i a , N. Y. L a n d convey- trator of Veterans' Affairs shall convey by quitclaim deed, without monetary consideration, to the city of Batavia, Xew York, all right, title, and interest of the United States in and to certain real property consisting of forty-four acres, more or less, at the Veterans' Adminis- tration Hospital, Batavia, New York, which has been determined to be in excess of the needs of the Veterans' Administration and surplus to the needs of all other Federal agencies. Such real property was donated to the United States by the city of Batavia, IVew York, and the county of Genesee, New York. The exact legal description of the real property to be conveyed pursuant to this Act shall be determined by the Admin- istrator of Veterans' Affairs. SEC. 2. Any deed of conveyance made pursuant to this Act shall— Provisions. (a) provide that the land conveyed shall be used by the city of Batavia, New York, in a manner that will not, in the judgment of the Administrator of Veterans' Affairs, or his designate, inter- fere with the care and treatment of patients in the Veterans' Administration Hospital, Batavia, New York; (b) contain such additional terms, conditions, reservations, easements, and restrictions as may be determined by the Admin- istrator of Veterans' Affairs to be necessary to protect the interest of the United States; (c) provide that if the city of Batavia, New York, violates any provision of the deed of conveyance or alienates or attempts to alienate all or any part of the parcel so conveyed, title thereto shall revert to the United States; and that a determination by the Administrator of Veterans' Affairs of any such violation or alienation or attempted alienation shall be final and conclusive; and (d) provide that in the event of such reversion improvements shall vest in the United States without payment of compensation therefor. Approved June 7, 1967. Public Law 90-26 AN ACT J u n e 13, 1967 To restore the investment credit and the allo\vanc*e of accelerated depreciation [H. R. 6950] ill the case of certain real property. Be it enacted hy the Senate and House of Representatives of the United States of America in Congress assembled,, That sections 48(j) and 167(i) (3) of the Internal Revenue Code of 1954 (defining sus- R e a l property. 80 Stat. 1513. pension period) are each amended by striking out "December 31,1967" 26 u s e 4 8 , 167. and inserting in lieu thereof "March 9, 1967". SEC. 2. (a) Section 48(h) (2) of the Internal Revenue Code of 1954 Investment credit. (defining suspension period property) is amended by striking out subparagraphs (A) and (B) and inserting in lieu thereof the following: " ( A ) the physical construction, reconstruction, or erection of which (i) is begun during the suspension period, or (ii) is
58 PUBLIC LAW 90-27-JUNE 16, 1967 [81 STAT. begun, })iii-siiant to an order placed during such period, before May 24, 196^7, or " ( B ) which (i) is acquired by the taxpayer during the susi^ension period, or (ii) is acquired by the taxpayer, pur- suant to an order phiced during such period, before May 24, 1967. In applying subparagraph (A) to any section 38 property, there shall be taken into accoimt only that portion of the basis which is properly attributable to construction, reconstruction, or erection before May 24, 1967." Depreciation allowance. (b) Section 167(i) (1) of such Code (relating to limitation on cer- tain methods of depreciation) is amended— (1) by striking out "if—" and all that follows in the first sen- tence and inserting in lieu thereof the following: "if the physical construction, reconstruction, or erection of such property by any person begins during the suspension period, or begins, pursuant to an order placed during such period, before May 24,1967."; and (2) by adding at the end thereof the following new sentence: "In applying this paragraph to any property, there shall be taken into account only that portion of the basis which is properly attributable to construction, reconstruction, or erection before May 24, 1967." 76 Stat. 967. SEC. 3. Section 48(a)(2) of the Internal Revenue Code of 1954 (relating to property used outside the United States) is amended by inserting before the semicolon at the end of subparagraph (B) (i) "or is operated under contract with the United States". Effective d a t e . SEC. 4. The amendments made by the first three sections of this Act shall apply to taxable years ending after March 9,1967. Presidential SEC. 5. (a) Funds which become available under the Presidential E l e c t i o n Cam- p a i g n Fund Act of Election Campaign Fund Act of 1966 shall be appropriated and 1966, g u i d e l i n e s . disbursed only after the adoption by law of guidelines governing their 80 Stat. 1587. distribution. Section 6096 of the Internal Revenue Code of 1954 shall become applicable only after the adoption by law of such guidelines. (b) Guidelines adopted in accordance with this section shall state expressly that they are intended to comply with this section. Approved June 13, 1967. Public Law 90-27 June 16, 1967 JOINT RESOLUTION [S. J. Res. 58] rp^j provide foi- the reappointment of .Teronie C. Hunisalter as Citizen Regent of the Board of Regents of the Smithsonian Institution. Resolved hy the Senate and House of RepreHentatheH of the United Smithsonian States of America in Congress assemhled. That the vacancy in the Institution. Board of Regents of the Smithsonian Institution, of the class other than Members of Congress, occurring by the expiration of the term of Jerome C. Hunsaker, of Boston, Massachusetts, on March 29, 1967, be filled by the reappointment of the present incumbent for the statutory term of six years. Approved June 16, 1967.