Public Law 382.

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69 Stat. 713 Public Law 382 chapter 858 AN ACT To amend Public Laws 815 and 874, Eighty-first Congress, which provide for assistance to local educational agencies in areas affected by Federal activities, and for other purposes. August 12, 1955[[H. R. 7245](/us/bill/84/hr/7245)] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Educational agencies In Federally affected areas. extension of public law 874 Section 1. The first sentence of section 2

(a)of the Act of September 30, 1950 (Public Law 874, Eighty-first Congress), as amended,[67 Stat. 530](/us/stat/67/530).[20 USC 237](/us/usc/t20/s237). is amended by striking out “five succeeding fiscal years” and inserting “six succeeding fiscal years”. Sections 3 (a), 3 (c), 4 (a), and 8 (d)[67 Stat. 530, 531, 532, 536](/us/stat/t67/s530/531/532/536).[20 USC 238, 239, 243](/us/usc/t20/s238/239/243). of such Act are amended by striking out “1956” wherever appearing therein and inserting “1957”. Section 3

(D)of such Act is amended by inserting after “July 1, 1955,” the following; “and the succeeding fiscal year,”. Section 10

(a)of such Act is amended by[67 Stat. 536](/us/stat/67/536).[20 USC 245](/us/usc/t20/s245). striking out “or the succeeding fiscal year” in the first sentence and inserting “or either of the two succeeding fiscal years”, and by striking out the second sentence and inserting the following: “Notice of such an election shall be filed with the Secretary of the Interior and with the Commissioner of Education before January 1 of the calendar year in which the fiscal year in question begins.”. payments under public law 874 for current increases in federally connected children Sec. 2. Section 4

(1)of such Act is amended by striking out[20 USC 239](/us/usc/t20/s239). “at least 5 per centum of the number of all children in average daily attendance at the schools of such agency during the preceding fiscal year” and inserting “at least 5 per centum of the difference between the number of children in average daily attendance at the schools of such agency during the preceding fiscal year and the number of such children whose attendance during such year resulted from activities of the United States (including children who resided on Federal property or with a parent employed, on Federal property)”. postponement of 3 per centum “absorption” requirement under public law 874 Sec. 3. The Act of August 31, 1954 (Public Law 732, Eighty-third Congress), is amended by inserting after “June 30, 1955,” the[68 Stat. 1006](/us/stat/68/1006).[20 USC 238 note](/us/usc/t20/s238). following: “and the succeeding fiscal year”. transfer of temporary school facilities made available under public law 815 Sec. 4. Sections 203 and 309 of the Act of September 23, 1950 (Public[64 Stat. 971](/us/stat/64/971); [67 Stat. 525](/us/stat/67/525).[20 USC 273, 299](/us/usc/t20/s273/299). Law 815, Eighty-first Congress), as amended, are each amended by inserting at the end thereof the following new sentence: “The Commissioner may transfer to such agency or its successor all the right, title, and interest of the United States in and to any temporary facilities made available to such agency under this section; any such transfer shall be without charge, but may be made on such other terms and conditions, and at such time, as the Commissioner deems appropriate to carry out the purposes of this title.” The amendments made by this section shall apply to any facility made available69 Stat. 714 to a local educational agency either before or after the enactment of this Act. date for determining “unhoused” children Sec. 5. [67 Stat. 522](/us/stat/67/522).[20 USC 294](/us/usc/t20/s294).

(a)Section 304 of such Act is amended, effective December 1, 1954, by striking out “the number of such children who will otherwise be without such facilities at such time shall be determined by reference to those facilities which

(A)are built or under contract as[20 USC 293](/us/usc/t20/s293). of the date set by the Commissioner under section 303 for filing applications for payments from the funds out of which such Federal share is to be paid” and inserting the following: “the number of such children who will otherwise be without such facilities at such time shall be determined by reference to those facilities which

(A)are built or under contract as of the earliest date set by the Commissioner under section 303, on or before which the application for such project is filed”.

(b)[20 USC 294](/us/usc/t20/s294). Such section is further amended by inserting “(a) ” after “Sec. 304.” and by adding at the end of section the following new subsection: " “(b)

(1)Where a local educational agency filed an application for payments under this title on or before November 24, 1953, and after that date entered into any construction contract which had the effect of diminishing or eliminating payments to such agency on the basis of the application, the Commissioner shall pay to such agency, out, of funds appropriated pursuant to this subsection, an amount equal to the difference between the amount, if any, reserved on the basis of the application and the amount which would have been reserved on the basis of the application out of funds appropriated by the Supplemental[67 Stat. 424](/us/stat/67/424). Appropriation Act, 1954, if such funds had been sufficient to permit payments without establishing priorities under section 303. “(2) Payments under this subsection shall be made upon request of the local educational agency involved, filed with the Commissioner within ninety days after the date on which funds are appropriated to make such payments. Except as provided in paragraph (3), such payments shall be made in a lump sum, and shall be made upon condition that the funds paid shall be used solely to finance the construction of school facilities for such agency (including the payment of obligations incurred with respect to school facilities constructed before the enactment of this subsection). “(3) If, as of the date on which funds are appropriated to make payments under this subsection, any agency to which this subsection applies has not provided minimum school facilities (determined by reference to those facilities which, as of such date, are built or under contract, or are included in a project the application for which has been approved under this title) for the estimated number of children who will be in the membership of its schools at the close of the regular school year 1955–1956, its request shall set forth one or more projects for the construction of minimum school facilities for such children, and with respect to such projects shall meet the requirements of section[20 USC 275](/us/usc/t20/s275). 205

(b)(1). If, and only if, the projects included in its request and approved for payment will provide minimum school facilities for the number of children for whom such facilities have not been provided, as determined under the preceding sentence, the balance, if any, of the amount payable to such agency under this subsection shall be paid to it in accordance with paragraph (2). Upon approval of the request, payments with respect to each project included in the[20 USC 297, 296](/us/usc/t20/s297/296). request shall be made under section 307 as if an application for such project had been approved under section 306.” " 69 Stat. 715 assistance under public law 815 for children residing on Indian land outside school districts Sec. 6.

(a)Paragraph

(1)of section 401

(a)of such Act is[67 Stat. 526](/us/stat/67/526).[20 USC 311](/us/usc/t20/s311). amended by inserting before the semicolon the following: “or that the total number of such children who reside on Indian lands located outside the school district of such agency equals or exceeds 100”.

(b)Such section 401

(a)is further amended by adding at the end thereof the following: “Assistance may be furnished under this subsection without regard to paragraph

(2)(but subject to the other provisions of this subsection and subsection (c)) to any local educational agency which provides free public education for children who reside on Indian lands located outside its school district. For purposes of this subsection ‘Indian lands’ means Indian reservations or other real property referred to in the third sentence of section 210 (1).”.

(c)Section 401

(b)of such Act is amended

(1)by striking out “the succeeding fiscal year” and inserting in lieu thereof “the two succeeding fiscal years”, and

(2)by striking out “June 30, 1955” and inserting in lieu thereof “June 30, 1956”. payments under public law 815 to districts unable to finance non-federal share of projects Sec. 7. Section 308 of such Act is amended by inserting “(a)” after[67 Stat. 525](/us/stat/67/525).[20 USC 298](/us/usc/t20/s298). “Sec. 308.” and by adding at the end of the section the following new subsection: " “(b) Where a local educational agency filed an application for payments under this section before June 30, 1954, and such agency met all the requirements established for approval of such application except the 20 per centum requirement as to children countable for payments under this title (45 C. F. R., 1954 Supp., 107.8

(b)(2)), and the number of children countable for the purposes of such requirement was equal to 10 per centum or more of the average daily membership of such agency for the school year 1953–1954, the Commissioner shall pay to such agency, out of funds appropriated pursuant to this subsection, an amount equal to the amount which would have been reserved on the basis of such application if such requirement had been met. Payments under this subsection shall be made upon application by the local educational agency involved, filed with the Commissioner on or before November 1, 1955, which shall set forth one or more projects for the construction of minimum school facilities for such agency, and shall meet the requirements of section 205

(1)with respect[20 USC 275](/us/usc/t20/s275). to such projects. Upon approval of an application under this subsection, payments with respect to each project included in the application shall be made under section 307 as if an application for such[20 USC 297, 296](/us/usc/t20/s297/296). project had been approved under section 306.” " Approved August 12, 1955. Public Law 383: To amend the Railroad Retirement Act of 1937, as amended, and the Railroad Unemployment Insurance Act. Public Law 383 Public Law 383 69 Stat. 715 1955-08-12 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 2026-01-02 84 1 public Public Law 383 chapter 869 AN ACT To amend the Railroad Retirement Act of 1937, as amended, and the Railroad Unemployment Insurance Act. August 12, 1955[[H. R. 4744](/us/bill/84/hr/4744)] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That, effective withRailroad retirement and unemployment Insurance.[65 Stat. 683](/us/stat/65/683).[45 USC 228b(e)](/us/usc/t45/s228b/e). respect to annuities accruing in months following the month of enactment hereof, section 2

(e)of the Railroad Retirement Act of 1937. as69 Stat. 716 amended, is amended by striking out “than $40” and inserting in lieu thereof the following: “, with respect to any month, than an amount equal to the maximum amount which could be paid to anyone, with respect to such month, as a wife’s insurance benefit under section 202

(b)of the Social Security Act as amended from time to time”. Sec. 2. Effective with respect to annuities accruing in months following the month of enactment hereof, section 5

(2)of the Railroad[65 Stat. 686](/us/stat/65/686).[45 USC 228e

(g)(2)](/us/usc/t45/s228e/g/2). Retirement Act of 1937, as amended, is amended by striking out the second sentence thereof. Sec. 3. Effective as of January 1, 1955, section 5

(9)of the Railroad[65 Stat. 689](/us/stat/65/698).[45 USC 228e (*l*)](/us/usc/t45/s228e/l) Retirement Act of 1937, as amended, is amended by striking out the language between “(ii)” and “(B)” and inserting in lieu thereof the following: “if such compensation for any calendar year before 1955 is less than $3,600 or for any calendar year after 1954 is less than $4,200 and the average monthly remuneration computed on compensation alone is less than $350 and the employee has earned in such calendar year ‘wages’ as defined in paragraph

(6)hereof, such wages, in an amount not to exceed the difference between the compensation for such year and $3,600 for years before 1955 and $4,200 for years after 1954, by”. Sec. 4. Effective as of the dates of their original enactment, section[50 Stat. 316](/us/stat/50/316).[45 USC 2281](/us/usc/t45/s2281).[52 Stat. 1097](/us/stat/52/1097); [53 Stat. 845](/us/stat/53/845).[45 USC 352 (e)](/us/usc/t45/s352/e). 12 of the Railroad Retirement Act of 1937, as amended, and section 2

(e)of the Railroad Unemployment Insurance Act, are each amended by striking out “No” and inserting in lieu thereof “Notwithstanding any other law of the United States, or of any State, Territory, or the District of Columbia, no”. Sec. 5. [50 Stat. 315](/us/stat/50/315).[45 USC 228j (b)](/us/usc/t45/s228j/b). Section 10

(b)4 of the Railroad Retirement Act of 1937, as amended, is amended by inserting immediately after the first sentence thereof the following sentence: “All positions to which such individuals are appointed, except one administrative assistant to each member of the Board, shall be in and under the competitive civil service and shall not be removed or excepted therefrom.” Sec. 6. [52 Stat. 1110](/us/stat/52/1110).[45 USC 362 (*l*)](/us/usc/t45/s362/l). The second paragraph of section 12

(1)of the Railroad Unemployment Insurance Act is amended by inserting immediately before the first colon therein the following: “: *Provided*, That all positions to which such persons are appointed, except one administrative assistant to each member of the Board, shall be in and under the competitive civil service and shall not be removed or excepted therefrom”. Approved August 12, 1955. Public Law 384: To amend section 112

(8)of the Internal Revenue Code of 1939, relating to the suspension of certain periods of limitation while the taxpayer is on extended active duty with the Armed Forces, and to amend the Internal Revenue Code of 1954 with respect to tax treatment where the taxpayer recovers amounts held by another under claim of right. Public Law 384 Public Law 384 69 Stat. 716 1955-08-12 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 2026-01-02 84 1 public Public Law 384 chapter 870 AN ACT To amend section 112

(8)of the Internal Revenue Code of 1939, relating to the suspension of certain periods of limitation while the taxpayer is on extended active duty with the Armed Forces, and to amend the Internal Revenue Code of 1954 with respect to tax treatment where the taxpayer recovers amounts held by another under claim of right. August 12, 1955[[H. R. 257](/us/bill/84/hr/257)] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, [66 Stat. 735](/us/stat/66/735).[26 USC, 1952 ed., 112](/us/usc/t26/s1952/112). That section 112

(8)of the Internal Revenue Code of 1939 (relating to the suspension of certain periods of limitation while the taxpayer is on extended active duty with the Armed Forces) is hereby amended by striking out “and before January 1, 1954, except that any such period” and inserting in lieu thereof the following: “and during an[68A Stat. 35](/us/stat/68A/35).[26 USC 112](/us/usc/t26/s112). induction period (as defined in section 112

(5)of the Internal Revenue Code of 1954), except that any such period of time”. Sec. 2. Effective date. The amendment made by the first section of this Act shall take effect as of December 31, 1953. 69 Stat. 717 Sec. 3. The Internal Revenue Code of 1954 is amended by adding a new section to chapter 1 of subtitle A immediately following section 1341 to read as follows: " “SEC. 1342. COMPUTATION OF TAX WHERE TAXPAYER RECOVERS SUBSTANTIAL AMOUNT HELD BY ANOTHER UNDER CLAIM OF RIGHT. “(a) General Rule.— If— “(1) an item was deducted from gross income for a prior taxable year (or years) because it appeared that another person held an unrestricted right to such item as a result of a court decision in a patent infringement suit (whether or not the taxpayer is a party to such suit); and “(2) gross income is increased for the taxable year because it was established after the close of such prior taxable year (or years) that such other person did not have an unrestricted right to such item or to a portion of such item because of the subsequent reversal of such court decision on the ground that such decision was induced by fraud or undue influence; and “(3) the amount of such increase in gross income exceeds $3,000, then the tax imposed by this chapter for the taxable year shall be the lesser of the following: “(4) the tax for the taxable year computed with the gross income so increased; or “(5) an amount equal to— “(A) the tax for the taxable year computed without such increase in gross income, plus “(B) the increase in tax (including interest) under this chapter (or the corresponding provisions of prior revenue laws) for the prior taxable year (or years) which would result solely from the elimination of such item (or portion thereof) as a deduction from gross income for such prior taxable year (or years). “(b) Special Rule.— For purposes of subsection

(B)interest shall be computed from the due date of the return for such prior taxable year to the due date of the return for the taxable year.” " Sec. 4. The amendment made by section 3 of this Act shall applyApplicability. with respect to taxable years beginning after December 31, 1954. Approved August 12, 1955. Public Law 385: To amend section 1233 and section 542

(2)of the Internal Revenue Code of 1954. Public Law 385 Public Law 385 69 Stat. 717 1955-08-12 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 2026-01-02 84 1 public Public Law 385 chapter 871 AN ACT To amend section 1233 and section 542

(2)of the Internal Revenue Code of 1954. August 12, 1955[[H. R. 6263](/us/bill/84/hr/6263)] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That section 1233Income taxes.[68A Stat. 327](/us/stat/68A/327).[26 USC 1233](/us/usc/t26/s1233). of the Internal Revenue Code of 1954 is amended by adding at the end thereof a new subsection as follows: " “(f) Arbitrage Operations in Securities.— Tn the case of a shortCapital gains and losses.Short sales. sale which had been entered into as an arbitrage operation, to which sale the rule of subsection

(2)would apply except as otherwise provided in this subsection— “(1) subsection

(2)shall apply first to substantially identical assets acquired for arbitrage operations held at the close69 Stat. 718 of business on the day such sale is made, and only to the extent that the quantity sold short exceeds the substantially identical assets acquired for arbitrage operations held at the close of business on the day such’sale is made, shall the holding period of any other such identical assets held by the taxpayer be affected; “(2) in the event that assets acquired for arbitrage operations are disposed of in such manner as to create a net short position in assets acquired for arbitrage operations, such net short position shall be deemed to constitute a short sale made on that day; “(3) for the purpose of paragraphs

(1)and

(2)of this subsection the taxpayer will be deemed as of the close of any business day to hold property which he is or will be entitled “to receive or acquire by virtue of any other asset acquired for arbitrage operations or by virtue of any contract he has entered into in an arbitrage operation; and “(4) for the purpose of this subsection arbitrage operations are transactions involving the purchase and sale of assets for the purpose of profiting from a current difference between the price of the asset purchased and the price of the asset sold, and in which the asset purchased, if not identical to the asset sold, is such that by virtue thereof the taxpayer is, or will be, entitled to acquire assets identical to the assets sold. Such operations must be clearly identified by the taxpayer in his records as arbitrage operations on the day of the transaction or as soon thereafter as may be practicable. Assets acquired for arbitrage operations will include stocks and securities and the right to acquire stocks and securities.” " Sec. 2. Applicability. The amendment made by the first section of this Act shall apply only with respect to taxable years ending after the date of the enactment of this Act and only in the case of a short sale, of property made by the taxpayer after such date. Sec. 3. Personal holding company.Stock ownership re quire meat.[68A Stat. 182](/us/stat/68A/182).[26 USC 542

(a)(2)](/us/usc/t26/s542/a/2). Section 452

(2)of the Internal Revenue Code of 1954 (defining the term “personal holding company”) is hereby amended by adding at the end thereof the following new sentence: "“The preceding sentence shall not apply in the case of an organization or trust organized or created before July 1, 1950, if at all times on or after July 1, 1950, and before the close of the taxable year such organization or trust, has owned all of the common stock and at least 80 percent of the total number of shares of ail other classes of stock of the corporation, but only if such organization or trust is not denied[68A Stat. 168](/us/stat/68A/168).[26 USC 504](/us/usc/t26/s504).[68A Stat. 233](/us/stat/68A/233).[26 USC 681 (c)](/us/usc/t26/s681/c). exemption under section 504 or an unlimited charitable deduction is not denied under section 681

(c)and, for this purpose— “(A) all income of the corporation which is available for distribution as dividends to its shareholder’s at the close of any taxable year shall be deemed to have been distributed at the close of such year whether or not any portion of such income was in fact distributed; and “(B) [68A Stat. 168, 233](/us/stat/68A/168/233).[26 USC 504

(a)(1), 681 (c)(1)](/us/usc/t26/s504/a/1/681/c/1). section 504

(1)and section 681

(1)shall also not apply to income attributable to property of a decedent dying before January 1, 1951, which was transferred during his lifetime to a trust or property that was transferred under his will to such trust.” " Sec. 4. Applicability. The amendment made by section 3 of this Act shall apply only with respect to taxable years beginning after December 31, 1954. Approved August 12, 1955. Public Law 386: To authorize the Secretary of the Interior to construct, operate, and maintain the Trinity River division, Central Valley project, California, under Federal reclamation laws. Public Law 386 Public Law 386 69 Stat. 719 1955-08-12 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 2026-01-02 84 1 public

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