Comments on "An Act to Amend the Merchant Ship Sales Act of 1946"

B-30613,B-37497,B-39875: Oct 21, 1949

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Congress requested that GAO comment on "An Act to Amend the Merchant Ship Sales Act of 1946."

GAO found that in its present form, the bill is essentially a tax matter. Certain sections of the bill conflict with the Internal Revenue Service's interpretation of the taxing on the value of vessels. Accordingly, GAO recommends that the proposed legislation not be enacted.