860 



I think the gentleman's amendments certainly clarify the issue that 

 he raised in the subcommittee. We will accept his amendments. 



Mr. Lent. I thank the gentleman. 



The Chairman. The question is on the amendments offered by the 

 gentleman from New York (Mr. Lent) . 



The amendments were agreed to. 



AMENDMENT OFFERED BY MR. SLACK 



Mr. Slack. Mr. Chairman, I offer an amendment. 

 The clerk read as follows : 



Amendment offereed by Mr. Slack : Page 49, after line 19, "(4) Funds may be 

 obligated for purposes stated in subsection (i) only to the extent provided in 

 appropriation Acts." 



(Mr. Slack asked and was given permission to revise and extend 

 his remarks.) 



Mr. Slack. Mr. Chairman, I will be brief. Section 319 (i) of the 

 pending bill establishes a revolving fund to provide for necessary pay- 

 ments and administrative expenses required to be made pursuant to 

 this section. As I stated earlier this afternoon, the amendment which I 

 have just offered Avould bring the administrative expenses of the new 

 bond guarantee section of this bill under better control, and would 

 subject such expenses to the regular appropriations process. 



Mr. Chairman, I have no quarrel with the bond guarantee program. 

 However, I do not think it would be appropriate to exclude the ad- 

 ministrative expenses involved in carrying out the program from the 

 normal appropriation process. My amendment would simply bring 

 such administrative costs within the purview of the regular appropria- 

 tions procedures. 



I ask for your support of my amendment. 



Mr. Murphy of New York. Mr. Chairman, will the gentleman 

 yield ? 



Mr. Slack. I yield to the gentleman from New York. 



Mr. Murphy of New York. I thank the gentleman for yielding. 



The bond section of this bill when it came to the committee from 

 the Senate, was rather loosely written. The committee, with the assist- 

 ance of the gentleman from Michigan (Mr. Dingell) carefully re- 

 worked the entire bond program provisions. I am happy that the 

 Committee on Appropriations has pointed out one area that we had 

 not included, which was to keep this within the Appropriations Act. 

 I think with the adoption of the amendment as recommended by the 

 gentleman from West Virginia we will have a bond provision section 

 that will be a model to be used in future legislation. 



Mr. Chairman, we accept the amendment. 



Mr. Du Pont. Mr. Chairman, will the gentleman yield ? 



Mr. Slack. I yield to the gentleman from Delaware. 



Mr. DU Pont. I thank the gentleman for yielding. 



On the minority side we concur in the amendment. 



Mr. Slack. I thank the gentleman. 



The Chapman. The question is on the amendment offered by the 

 gentleman from West Virginia (Mr. Slack) . 



The amendment was agreed to. 



