Panama Canal Modernization Act - Directs the Governor of the Canal Zone, under the supervision of the Secretary of the Army, to prosecute the work necessary to increase the capacity and improve the operations of the Panama Canal through the adaptation of the Third Locks project (H. Doc. 210, 76th Congress) at a total cost not to exceed $1,150,000,000.
Establishes the Panama Canal Advisory and Inspection Board composed of five members appointed by the President by and with the advice and consent of the Senate to study and review plans and designs for the Third Locks project.
Gives the Board powers to carry out the provisions of this Act. Requires the Board to submit an annual report to the President and Congress on the progress of its work.
Directs that the provisions of this Act shall remain in effect only as long as the United States retains sovereign rights in the Canal Zone.
Introduced in House
Introduced in House
Referred to House Committee on Merchant Marine and Fisheries.
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