REPEAL OF INTEREST PAYMENT PROVISIONS.

SEC. 152. REPEAL OF INTEREST PAYMENT PROVISIONS. Section 711 of the Defense Production Act of 1950 (50 U.S.C. App. 2161) is amended— (1) by striking subsection (b); and (2) in subsection (a)— (A) by striking “(a)(1) Except as provided in paragraph (2) and paragraph (4)” and inserting the following: “(a) Authorization.— “(1) In general.— Except as provided in subsection (c),”; (B) in paragraph (1), in the parenthetical, by striking “and for payment of interest under subsection (b) of this section”; (C) by striking paragraph (2); (D) in paragraph (3), by striking “(3) There are” and inserting the following: “(b) Section 305 Authorization.— ”; and (E) in paragraph (4)— (i) by striking “(4)(A) There are” and inserting the following: “(c) Section 303 Authorization.— There are”; and (ii) by striking subparagraph (B).