Executive Order 11666—Qualification for the Investment Credit on Certain Articles and Classes of Articles of Predominantly Foreign Origin

By virtue of the authority vested in me by section 48 (a) (7) (C) of the Internal Revenue Code of 1954, as amended (26 U.S.C. 48 (a) (7) (C)), and having determined that the application of section 48 (a) (7) (A) to the articles or class of articles described herein is not in the public interest, it is hereby ordered that section 48 (a) (7) (A) shall not apply to an acquisition by the taxpayer of:

(a) Any article the unit cost of which to the taxpayer is not in excess of $500; or

(b) Agricultural implements, machinery, and equipment which are determined by the Secretary of the Treasury to be free of duty under an item of the tariff schedules of the United States (19 U.S.C. 1202), lists of the items to be published from time to time in the Federal Register.

The provisions of this Executive Order shall apply to property described herein acquired pursuant to an order placed by the taxpayer after August 15, 1971, and before December 20, 1971.

RICHARD NIXON

The White House,

April 11, 1972