A bill to revise and extend the Renegotiation Act of 1951.
Renegotiation Act Amendments - Revises the procedures under the Renegotiation Act for the determination of excessive profits by national defense contractors.
Sets terms of office for members of the Renegotiation Board at five years except for those members appointed to fill a vacancy occurring prior to the expiration of a term.
Sets the method and form of commencing renegotiation proceedings under this Act. Eliminates specified exemptions for products and equipment of oil and gas wells which the Board may presently make to some or all of the provisions of the Renegotiation Act.
Provides for the payment of interest on amounts of excessive profits at a rate to be specified by the Secretary of the Treasury.
Authorizes the appropriation of such sums as are necessary to carry out this Act.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Currency and Housing.
Reported to House from the Committee on Banking, Currency and Housing with amendment, H. Rept. 94-699.
Reported to House from the Committee on Banking, Currency and Housing with amendment, H. Rept. 94-699.
Measure called up by special rule in House.
Measure considered in House.
Measure considered in House.
Motion to recommit to the Committee on Banking, Currency and Housing with instructions rejected in House.
Passed/agreed to in House: Measure passed House, amended.
Measure passed House, amended.
Referred to Senate Committee on Finance.
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