Public Law 805.
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/statutes-at-large/vol-49/public-law-805·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(/us/pl/74/804).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Naval vessels, construction under treaty categories. That section 3
(b)of an Act entitled “An Act to establish the composition of the United States Navy with respect to the categories of vessels limited by the treaties signed at Washington, February 6, 1922, and at London, April 22, 1930, at the limits prescribed by those treaties; to authorize the construction of certain naval vessels; and for other Vol. 48, p. 505.purposes”, approved March 27, 1934 (48 Stat. 505), is hereby amended by striking out the word “price” and inserting the words “prices, of such contracts within the scope of this section as are completed by the particular contracting party within the income-taxable year”, after the words “of the total contract”; by inserting the words “but the surety under such contracts shall not be liable for the payment of such excess profit: *Provided*, That if there is a net loss on all such contracts or subcontracts completed by the particular contractor or subcontractor within any income-taxable year, such net loss shall be allowed as a credit in determining the excess profit, if any, for the next succeeding income-taxable year:” after the words “property of the United States”; by inserting the word “further” after the word “*Provided*”; by deleting the word “may” after the words “the Secretary of the Treasury” and substituting therefor the word “shall”; and by adding at the end of the section the following proviso: “*Provided further*, That all provisions of law (including penalties) applicable with respect to the taxes imposed by Title I of the Revenue Act of 1934, and not inconsistent with this section, shall be applicable with respect to the assessment, collection, or payment of excess profits to the Treasury as provided by this section, and to refunds by the Treasury of overpayments of excess profits into the Treasury: *And provided further*, That this section shall not apply to contracts or subcontracts for scientific equipment used for communication, target detection, navigation, and fire control as may be so designated by the Secretary of the Navy, and the Secretary of the Navy shall report annually to the Congress the names of such contractors and subcontractors affected by this provision, together with the applicable contracts and the amounts thereof.” so that as amended said section 3
(b)will read as follows:" “Sec. 3. Profit limited.
(b)To pay into the Treasury profit, as hereinafter provided shall be determined by the Treasury Department, in excess Computation.of 10 per centum of the total contract prices, of such contracts within the scope of this section as are completed by the particular contracting party within the income taxable year, such amount to Surety’s liability on performance bonds.become the property of the United States, but the surety under such contracts shall not be liable for the payment of such excess *Proviso*.Credit for loss in next succeeding year.profit: *Provided*, That if there is a net loss on all such contracts or subcontracts completed by the particular contractor or subcontractor within any income taxable year, such net loss shall be 1927allowed as a credit in determining the excess profit, if any, for the next succeeding income taxable year: *Provided further*, ThatCollections, if not voluntarily paid. if such amount is not voluntarily paid the Secretary of the Treasury shall collect the same under the usual methods employed under the internal-revenue laws to collect Federal income taxes: *Provided further*, That all provisions of law (including penalties)Provisions for collecting excess profits and refunds of overpayments.Vol. 48, p. 683. applicable with respect to the taxes imposed by Title I of the Revenue Act of 1934, and not inconsistent with this section, shall be applicable with respect to the assessment, collection, or payment of excess profits to the Treasury as provided by this section, and to refunds by the Treasury of overpayments of excess profits into the Treasury: *And provided further*, That this section shall notSpecific exemptions. apply to contracts or subcontracts for scientific equipment used for communication, target detection, navigation, and fire control as may be so designated by the Secretary of the Navy, and the SecretaryAnnual reports to Congress. of the Navy shall report annually to the Congress the names of such contractors and subcontractors affected by this provision, together with the applicable contracts and the amounts thereof: *And provided further*, That the income-taxable years shall be suchEffective dates. taxable years beginning after December 31, 1935, except that the above provisos relating to the assessment, collection, payment, or refunding of excess profit to or by the Treasury shall be retroactive to March 27, 1934.” " Approved, June 25, 1936. To authorize the striking of an appropriate medal in commemoration of the one hundredth anniversary of the founding of the city of Shreveport, Louisiana, and the opening of the Red River of the West to navigation. Chapter 813 49 Stat. 1927 1936-06-25 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-07 74 2 public [CHAPTER 813.] AN ACT To authorize the striking of an appropriate medal in commemoration of the one hundredth anniversary of the founding of the city of Shreveport, Louisiana, and the opening of the Red River of the West to navigation. June 25, 1936.[[H. R. 8107](/us/bill/74/hr/8107).][[Public, No. 805](/us/pl/74/805).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Shreveport, La., centennial, etc.Commemorative medals authorized. That in commemoration of the one-hundredth anniversary of the founding of the city of Shreveport, Louisiana, and of the opening to navigation of the Red River of the West by the United States Government, resulting in the development of the triState territory of North Louisiana, east Texas, and southwest Arkansas, there shall be struck at a mintNumber, etc. of the United States to be designated by the Director of the Mint twenty-five thousand commemorative medals of a special appropriate single design, size, weight, and composition to be fixed by the Director of the Mint with the approval of the Secretary of the Treasury. Sec. 2. Such commemorative medals shall be delivered to the dulyDelivery to Shreveport Centennial, Incorporated.Payment. authorized officers of the Shreveport Centennial, Incorporated, upon payment to the Director of the Mint of an amount to be fixed by the Director of the Mint not less than the estimated cost of manufacture, including labor, materials, dies, use of machinery, and over-head expenses; and security satisfactory to the Director of the Mint shall be furnished to indemnify the United States for the full payment of such cost. Sec. 3. Whoever shall falsely make, forge, or counterfeit or causeCounterfeiting, etc. or procure to be falsely made, forged, or counterfeited or shall aid in falsely making, forging, or counterfeiting any medal issued under the provisions of this Act, or whoever shall sell or bring into the United States or any place subject to the jurisdiction thereof from any foreign place, or have in his possession any such false, forged, or counterfeited medal, shall be fined not more than $1,000 or imprisonedPenalty. not more than two years, or both. Approved, June 25, 1936. To modify section 20 of the Permanent Appropriation Repeal Act, 1934, with reference to individual Indian money. 1936-06-25 814 Chapter 49 Stat. 1928 74 2 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-07 public 1928 [CHAPTER 814.] AN ACT To modify section 20 of the Permanent Appropriation Repeal Act, 1934, with reference to individual Indian money.June 25, 1936.[[H. R. 8316](/us/bill/74/hr/8316).][
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- 49 Stat. 1927
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