PUBLIC LAWS-CH. 63 -FEB . 25 , 1944 Act. The total credit allowable against the tax imposed by such Act for the calendar year 1939, 1940, 1941, or 1942 shall not exceed 90 per centum of such tax. (c) REFUND, CREDrr, OR ABATEMENT. - (1) Refund or credit of the tax (including penalty and interest collected with respect thereto, if any), based on any credit allowable under this section, may be made in accordance with the provisions of law applicable in the case of erroneous or illegal collection of the tax (including statutes of limita- tions). No interest shall be allowed or paid on the amount of any such credit or refund. (2) Any claim for refund or credit, with respect to the tax (including penalty and interest collected with respect thereto, 4satat.6 . if any) imposed by section 901 of the Social Security Act or s tt.leC : section 1600 of the Federal Unemployment Tax Act, based on 2 Up.m. c. 1no.; credit for contributions, which has been disallowed prior to the date of enactment of this Act, the allowance of which would be 3Stat. 46. considered erroneous under section 3774 (b) or section 3775 (b) cbS),3 5b. o 34 of the Internal Revenue Code, shall nevertheless be allowable if 3stat. 183. otherwise allowable under this section or section 1601 of the Asi., .7' 10 Federal Unemployment Tax Act. (3) Notwithstanding the acceptance of an offer in compromise prior to the date of enactment of this Act with respect to any tax (or penalty or interest in connection therewith) imposed by 9stat. s9. section 901 of the Social Security Act or section 1600 of the 3 Sta. o. all137. Federal Unemployment Tax Act, any claim for refund credit 26 ut.s .13,87. F y 2upp.. , 160o0; or abatement with respect to the tax (including penalty and interest collected with respect thereto, if any) imposed by either of such Acts, based on credit for contributions, shall be allowable 53 tat.183.1387. if otherwise allowable under this section or section 1601 of the A26e, p.1601. Federal Unemployment Tax Act. (4) On and after the date of the enactment of this Act no refund, credit, or abatement shall be allowed based on any credit 5stat.726. allowable under section 701 of the Revenue Act of 1941. 26 U. S. C., Bupp. mIl, 1600note. TITLE VII-RENEGOTIATION OF WAR CONTRACTS SEC. 701. RENEGOTIATION OF WAR CONTRACTS. (a) TERMB UsED.- Terms used in this section shall have the same 'if. meaning as when used in section 403 of the Sixth Supplemental National Defense Appropriation Act, 1942. W6tat. M . (b) RENEOTIATION OF WAR CoNTRACrs. -Section 403, as amended, 60 U.S.C., Supp. III, app. s1191. of the Sixth Supplemental National Defense Appropriation Act, 1942, is amended to read as follows: Renegotiation Act. "SEa. 403. (a) For the purposes of this section- "Department." ' (1) The term 'Department' means the War Department, the Navy Iepartment, the Treasury Department, the Maritime Commission, the War Shipping Administration, Defense Plant Corporation, Metals Reserve Company, Defense Supplies Corporation, and Rubber Reserve Company, respectively. " Besty. " "(2) In the case of the Maritime Commission, the term 'Secretary' means the Chairman of such Commission, in the case of the War Shipping Administration, the term 'Secretary' means the Adminis- trator of such Administration, and in the case of Defense Plant Cor- poration, Metals Reserve Company, Defense Supplies Corporation, and Rubber Reserve Company,'ecreta means the board of directors of the appropratecorporation. [58 STAT.
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