H. R. 7424, H. R. 5068, H. R. 3822, H. R. 2741 JANUARY 23, 24, 25, 26, 31, FEBRUARY 1, 2, 7, 14, AND 20, 1940 Printed for the use of the Committee on Military Affairs Hon. John J. Sparkman, Representative in Congress from the State of William C. Fitts, General counsel and secretary, Tennessee Valley Hon. Prentice Cooper, Governor of Tennessee. W. D. Hudson, member, Railroad and Public Utilities Commission _ _ W. H. Fargerson, superintendent of schools, Fannin, Ga....... Sam P. Raulston, county attorney, Marion County, Tenn.. John W. Lapsley, counsel, State Department of Revenue of Alabama - William C. Fitts, Jr., general counsel, Tennessee Valley Authority. Harry J. Schaeffer, county attorney, Polk County, Tenn.. J. A. Krug, chief power engineer, Tennessee Valley Authority- J. C. Swidler, solicitor, Tennessee Valley Authority. William Butt, county attorney, Fannin County, Blue Ridge, Ga... Hon. Herron Pearson, Representative in Congress from the State of Letter of transmittal and statistics of operations for municipalities (electric departments only) and cooperatives purchasing Tennessee Valley Authority power, month of November 1939, and munici- palities (electric department only) and cooperatives purchasing power from the Tennessee Valley Authority as of January 1, 1940, but not included in financial statement for the fiscal year ended TO AMEND THE TENNESSEE VALLEY AUTHORITY ACT OF 1933 TUESDAY, JANUARY 23, 1940 HOUSE OF REPRESENTATIVES, Washington, D. C. The committee met at 10:30 a. m., Hon. A. J. May (chairman) presiding. The CHAIRMAN. Now, gentlemen, I am calling up for consideration H. R. 7424, by Mr. Sparkman, a member of this committee and a Representative from the State of Alabama, which has been referred to the Committee on Military Affairs "To amend the Tennessee Valley Authority Act of 1933." Also H. R. 5068, by Mr. Rankin, of Mississippi, "To amend the Tennessee Valley Authority Act of 1933." Also H. R. 5069, by Mr. Sparkman, a member of this committee and a Representative from the State of Alabama, to amend the same act. H. R. 5022 by Mr. Sparkman. H. R. 3822 by Mr. Gore "To amend the Tennessee Valley Authority Act." H. R. 2993, by Mr. Sparkman, "To amend the Tennessee Valley Authority Act." H. R. 2741, by Mr. Pearson, of the State of Tennessee, "To amend the Tennessee Valley Authority Act." H. R. 4640, by Mr. Weaver, of North Carolina, "To amend the Tennessee Valley Authority Act.” And any other bills that are pending in this committee relating to the Tennessee Valley Authority Act. I believe there is one by Mr. Welch, H. R. 4094. The bills are as follows: [H. R. 7424, 76th Cong., 1st sess.] A BILL To amend the Tennessee Valley Authority Act of 1933 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 13 of the Tennessee Valley Authority Act of 1933 be, and the same is hereby, amended to read as follows: "SEC. 13. In order to render financial assistance to those States and local governments in which the power operations of the corporation are carried on and in which the corporation has acquired properties previously subject to State and local taxation, the board is authorized and directed to pay to said States, for each fiscal year, beginning July 1, 1940, the following percentages of the gross proceeds derived from the sale of power by the corporation for the preceding fiscal year as hereinafter provided, together with such additional amounts as may be payable pursuant to the provisions hereinafter set forth, said payments to be in lieu of taxes and to constitute a charge against the power operations of 1 |