55 STAT.] 77TH CONG. , 1ST SESS.-CHS. 10, 11 -MAR . 7 , 11, 1941 year, the computation and information based on such credit may be omitted from the return. "(2) No R-ETION RsEQ ED.- -". SEC. 17. EFFECTIVE DATE. The amendments made by this Act shall be effective as of the date of enactment of the Excess Profits Tax Act of 1940. Approved, March 7, 1941. [CHAPTER 11] AN ACT Further to promote the defense of the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as "An Act to Promote the Defense of the United States". SEC. 2. As used in this Act- (a) The term "defense article" means- (1) Any weapon, munition, aircraft, vessel, or boat; (2) Any machinery, facility, tool, material, or supply neces- sary for the manufacture, production, processing, repair, servic- ing, or operation of any article described in this subsection; (3) Any component material or part of or equipment for any article described in this subsection; (4) Any agricultural, industrial or other commodity or article for defense. Such term "defense article" includes any article described in this subsection: Manufactured or procured pursuant to section 3, or to which the United States or any foreign government has or hereafter acquires title, possession, or control. (b) The term "defense information" means any plan, specification, design, prototype, or information pertaining to any defense article. SEC. 3. (a) Notwithstanding the provisions of any other law, the President may, from time to time, when he deems it in the interest of national defense, authorize the Secretary of War, the Secretary of the Navy, or the head of any other departllenlt or agency of the Government- (1) To manufacture in arsenals, factories, and shipyards under their jurisdiction, or otherwise procure, to the extent to which funds are made available therefor, or contracts are author- ized from time to time by the Congress, or both, any defense article for the government of any country whose defense the President deems vital to the defense of the United States. (2) To sell, transfer title to, exchange, lease, lend, or otherwise dispose of, to any such government any defense article, but no defense article not manufactured or procured under paragraph (1) shall in any way be disposed of under this paragraph, except after consultation with the Chief of Staff of the Army or the Chief of Naval Operations of the Navy, or both. The value of defense articles disposed of in any way under authority of this paragraph, and procured from funds heretofore appropriated. shall not exceed $1,300,000,000. The value of such defense articles shall be determined by the head of the department or agency con- cerned or such other department, agency or officer as shall be designated in the manner provided in the rules and regulations issued hereunder. Defense articles procured from funds hereafter appropriated to any department or agency of the Government, 31 54 Stat. 975, 1018. 26 U. . c. §C710- 752. March 11, 1941 [H. R. 1776] [Public Law 11] An Act to Promote the Defense of the United States. Post, p. 236. "Defense article." "Defense informla- tion." Powers of the Presi- dent. Manlfacture, etc., of defense articles for designated govern- ments. Disposal. Limitation on value. Post, p. 813. Defense articles pro- cured from future ap- propriations.
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