The President may identify those provisions of Federal law (including any law or laws regarding the location of a crude oil transportation system but not including any provision of the antitrust laws) which, in the national interest, as determined by the President, should be waived in whole or in part to facilitate construction or operation of any such system approved under section 2007 of this title or of the Long Beach-Midland project, and he shall submit any such proposed waiver to both Houses of the Congress. The provisions so identified shall be waived with respect to actions to be taken to construct or operate such system or project only upon enactment of a joint resolution within the first period of 60 calendar days of continuous session of Congress beginning on the date of receipt by the House of Representatives and the Senate of such proposal.

The resolving clause of the joint resolution referred to in subsection (a) is as follows: “That the House of Representatives and Senate approve the waiver of the provisions of law (    ) as proposed by the President, submitted to the Congress on      , 19 .”. The first blank space therein being filled with the citation to the provisions of law proposed to be waived by the President and the second blank space therein being filled with the date on which the President submits his decision to wave [1] such provisions of law to the House of Representatives and the Senate. Rules and procedures for consideration of any such joint resolution shall be governed by section 719f(c) and (d) of title 15, other than paragraph (2) of section 719f(d) of title 15, except that for the purposes of this subsection, the phrase “a waiver of provisions of law” shall be substituted in section 719f(d) of title 15 each place where the phrase “an Alaska natural gas transportation system” appears.

(Pub. L. 95–617, title V, § 508, Nov. 9, 1978, 92 Stat. 3162.)