Defense Production Act Amendments

[AI summary unavailable — showing source text] Repeals the provisions of the Defense Production Act of 1950 (50 U.S.C. App. 2094), authorizing loans to private business for defense purposes and loans to private business and government agencies for purchase of raw materials and installation of equipment. Directs the Secretary of the Treasury to cancel the outstanding balance of all unpaid notes issued to the Secretary for such loans, together with interest accrued and unpaid. States that at the close of each fiscal year there shall be deposited into the Treasury as miscellaneous receipts, from any amounts appropriated under this Act, an amount which the Secretary of the Treasury determines necessary to provide for the payment of any interest accrued and unpaid under this Act.…