H.R.10680 - Renegotiation Act Amendments94th Congress (1975-1976)
|Sponsor:||Rep. Minish, Joseph G. [D-NJ-11] (Introduced 11/11/1975)|
|Committees:||House - Banking, Currency, and Housing | Senate - Finance|
|Committee Reports:||H.Rept 94-699|
|Latest Action:||Senate - 01/30/1976 Referred to Senate Committee on Finance. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.10680 — 94th Congress (1975-1976)All Information (Except Text)
Introduced in House (11/11/1975)
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.