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Surplus Property Act of 1944 (ch. 479, 58 Stat. 765, 50A U.S.C. § 1611 et seq., enacted October 3, 1944) is an act of the United States Congress that was enacted to provide for the disposal of surplus government property to "a State, political subdivision of a State, or tax-supported organization".
The Surplus Property Board (SPB) was briefly responsible for disposing of $90 billion of surplus war property held by the United States government in the final year of World War II. [1] Created by the Surplus Property Act of 1944 , [ 2 ] the Board functioned for less than nine months, before being replaced by a more streamlined agency.
In addition, government-owned industrial plants, airfields, and other real property was sold or turned over. Even patents, industrial processes, manufacturing techniques, and inventions were declared surplus and put up for sale. [2] Below are a few examples of surplus assets distributed by the WAA: Agricultural machinery [3]
An Act to amend the Surplus Property Act of 1944 to designate the Department of State as the disposal agency for surplus property outside the continental United States, its Territories and possessions, and for other purposes. Nicknames: Surplus Property Act Amendment of 1946: Enacted by: the 79th United States Congress: Effective: August 1 ...
Government property sold at public auction may include surplus government equipment, abandoned property over which the government has asserted ownership, property which has passed to the government by escheat, government land, and intangible assets over which the government asserts authority, such as broadcast frequencies sold through a spectrum auction.
Apr. 16—Manchester aldermen are backing a proposal to sell unused city-owned properties to raise funds to invest in affordable housing. This week, members of the aldermanic Committee of Lands ...
This required mass-produced wears and arms for both sides. After the war, to recoup some money, they sold the supplies in stores. Thus the military surplus store was born. In the 1870s, Francis Bannerman VI operated "Bannerman's surplus". [4] His surplus company was one of the largest ever to operate.
The Van Nuys Army & Navy Surplus Store, a former surplus store in Los Angeles, California, United States. A surplus store or disposals store is a business that sells items and goods that are used, purchased but unused, or past their use by date, and are no longer needed due to excess supply, decommissioning, or obsolescence.