Page:United States Statutes at Large Volume 75.djvu/807

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[75 Stat. 767]
[75 Stat. 767]
PUBLIC LAW 87-000—MMMM. DD, 1961

75

STAT.]

PUBLIC LAW 87-347-OCT. 3, 1961

767

York, as determined by the Secretary, is below 141/^ cents per pound, and such payments shall be 75 per centum of the difference between 141^ cents per pound and the average market price for the month in which the sale occurred as determined by the Secretary. (c) Such payments shall be made to small domestic producers of zinc as long as the market price for prime western zinc at East Saint Louis, Illinois, as determined by the Secretary, is below 14i/^ cents per pound, and such payments shall be 55 per centum of the difference between 141^ cents per pound and the average market price for the month in which the sale occurred as determined by the Secretary. (d) The maximum amount of payments which may be made pursuant to this Act on account of sales of newly mined ores or concentrates produced therefrom made during the calendar year 1962 shall not exceed $4,500,000; the maximum amount of such payments which may be made on account of such sales made during the calendar year 1963 shall not exceed $4,500,000; the maximum amount of such payments which may be made on account of such sales made during the calendar year 1964 shall not exceed $4,000,000; and the maximum amount of such payments which may be made on account of such sales made during the calendar year 1965 shall not exceed $3,500,000. SEC. 3. (a) Subject to the provisions of subsection (b) and subsection (c) of this section, no stabilization payments under this Act shall be made to any small domestic producer on sales, or further processing in lieu of sales, in the twelve-month period ending December 31, 1962, in excess of one thousand five hundred tons of zinc and one thousand five hundred tons of lead; or in the twelve-month period ending December 31, 1963, in excess of one thousand two hundred tons of zinc and one thousand two hundred tons of lead; or in the twelve-month period ending December 31, 1964, in excess of nine hundred tons of zinc and nine hundred tons of lead; and in the twelve-month period ending December 31, 1965, in excess of six hundred tons of zinc and six hundred tons of lead, subject to the further limitation that no producer may be paid in any such calendar year for an amount in excess of his maximum production during any calendar year between January 1, 1950, and December 31, 1960. Payments shall be made only with respect to ores and concentrates produced from an operating unit which was operated during the whole or some part of the period January 1, 1956, to August 1, 1961. No payments shall be made on any production from any property acquired by sale, lease, permit, or otherwise (except devise or inheritance) subsequent to August 1, 1961: Provided, however, That any person or firm acquiring a property by sale, lease, permit, or otherwise may qualify as a small domestic producer if such person or firm produced ores or concentrates from a mine specified in a lease, permit, or contract during the whole or some part of the period January 1, 1956, to August 1, 1961. (b) No stabilization payments under this Act shall be made on any domestically produced material which is sold to or eligible for sale to the United States Government, or any agency thereof, pursuant to a contract made under the provisions of the Defense Production Act of 1950, as amended, or the Strategic and Critical Materials Stock- |Q ^^*g c^^app. piling Act. Any such material shall be applied to reduce the annual 20 6 limitations specified in this section, and the quarterly limitations as 5° use Is note, fixed by the Secretary. (c) For purposes of administration the Secretary may fix quarterly limitations on the total amounts of each material on which stabilization payments are made for the purpose of achieving stabilization in the annual rates of production. SEC. 4. The Secretary is authorized to establish and promulgate such,^^0,^^*"°"* ^^^ regulations and require such reports as he deems necessary to carry out