[PUBLIC LAW 301-80TH CONGRESS] [CHAPTER 418-1ST SESSION] [S. 1361] AN ACT To amend the United States Housing Act of 1937 so as to permit loans, capital grants, or annual contributions for low-rent-housing and slum-clearance projects where construction costs exceed present cost limitations upon condition that local housing agencies pay the difference between cost limitations and the actual construction costs. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 15 of the United States Housing Act of 1937 is amended by adding at the end thereof the following new subsection: "(6) Notwithstanding the provisions of subsection (5) of this section, or of any other section of this Act, the Authority is authorized to make capital grants, loans, or annual contributions for low-renthousing or slum-clearance projects, in the full amount of any sums previously allocated pursuant to this Act, to any public housing agency, at the request of such agency, upon condition that such agency will pay, or cause to be paid by the State or political subdivision, such proportion of the total development cost of the project as the amount of the average actual cost per family dwelling unit of the items covered by the applicable cost limitations prescribed in subsection (5) of this section in excess thereof bears to such average actual cost: Provided, That the amount of any such payment shall be excluded from the base on which the maximum amount of any capital grants, loans, or annual contributions authorized by this Act are calculated. The receipt of capital grants, loans, or annual contributions by any public-housing agency pursuant to this subsection shall in no way prejudice or impair the rights or privileges of such agency to participate fully in other low-rent-housing or slum-clearance projects under this Act or any other law. Nothing in this subsection shall prejudice the right of those public housing agencies which can, by reason of lesser need, or would prefer to delay the starting of their proposed building operations until labor and material costs stabilize at levels consistent with the cost limitations prescribed in subsection (5) of this section." SEC. 2. The United States or any State or local public agency assisted by Federal funds made available with respect to housing shall continue to have the right to maintain an action or proceeding to recover possession of any housing accommodations (except as provided in the proviso of section 209 (b) of the Housing and Rent Act of 1947) operated by it where such action or proceeding is authorized by the statute or regulations under which such accommodations are administered, but no such action or proceeding shall be maintained prior to March 1, 1948, if in the opinion of the administering authority such action or proceeding would result in undue hardship for the occupants of such housing accommodations, or unless in the opinion of such authority other housing facilities are available for such occupants. Approved July 31, 1947. [PUBLIC LAW 311-80TH CONGRESS] [CHAPTER 431-1ST SESSION] [H. R. 3448] AN ACT To amend the Federal Home Loan Bank Act, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (b) of section 10 of the Federal Home Loan Bank Act is hereby amended by striking the words "twenty years" appearing in the first sentence thereof, and inserting in lieu thereof the words "twenty-five years". Approved August 1, 1947. [PUBLIC LAW 317-80TH CONGRESS] AN ACT To extend the period for providing assistance for certain war-incurred school enrollments. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That in order to enable authorities which are still overburdened with war-incurred school enrollments to meet their needs during the transition from war to peacetime conditions, the Federal Works Administrator is authorized to continue to make during the fiscal year ending June 30, 1948, contributions for the operation and maintenance of school facilities to local school agencies requiring assistance that have received during the fiscal year ending June 30, 1947, Federal contributions administered by him for the maintenance and operation of their school facilities. Appropriations and existing appropriations heretofore authorized (to the Federal Works Administrator) for similar purposes are hereby authorized to carry out the purposes of this Act. The amount hereinbefore authorized shall not exceed the sum of $5,000,000 for the year ending June 30, 1948. Approved August 1, 1947. (219) [PUBLIC LAW 366-80TH CONGRESS] [S. 1720] AN ACT To amend the National Housing Act, as amended. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 603 (a) of the National Housing Act, as amended, is hereby amended by (1) striking out "$2,800,000,000" and inserting in lieu thereof "$4,000,000,000" and (2) striking out "$3,800,000,000" and inserting in lieu thereof "$4,200,000,000". SEC. 2. Title VI of the National Housing Act, as amended, is hereby amended by adding at the end thereof the following new section: "SEC. 610. Notwithstanding any of the provisions of this title, the Administrator is authorized, upon application by the mortgagee, to insure or to make commitments to insure under section 603 or section 608 of this title any mortgage executed in connection with the sale by the Government, or any agency or official thereof, of any housing acquired or constructed under Public Law 849, Seventy-sixth Congress, as amended; Public Law 781, Seventy-sixth Congress, as amended; or Public Laws 9, 73, or 353, Seventy-seventh Congress, as amended (including any property acquired, held or constructed in connection with such housing or to serve the inhabitants thereof), without regard to "(1) any limit as to the time when any mortgage may be insured under this title; "(2) any limit as to the aggregate amount of principal obligations of all mortgages insured under this title, but the aggregate amount of principal obligations of all mortgages insured pursuant to this section shall not exceed $750,000,000; "(3) any requirement that the obligation be approved for mortgage insurance prior to the beginning of construction or that the construction be new construction; "(4) any of the provisions of section 603 (b) (2) or paragraphs (B) and (C) of the first sentence of section 608 (b) (3): Provided, That such mortgage shall (1) otherwise be eligible for insurance under section 603 or section 608, as the case may be, (2) have a maturity not exceeding twenty-five years from the date of insurance, and (3) involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Administrator shall approve) in an amount not exceeding 90 per centum of the appraised value of the mortgage property as determined by the Administrator." Approved August 5, 1947. (220) [PUBLIC LAW 372-80TH CONGRESS] [CHAPTER 503-18T SESSION] (H. R. 2800] AN ACT To amend section 5 of Home Owners' Loan Act of 1933, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (c) of section 5 of the Home Owners' Loan Act of 1933, as amended, is hereby amended by adding at the end thereof the following: "Notwithstanding any other provision of this subsection except the area restriction such associations may invest their funds in loans insured under title I of the National Housing Act, as amended, loans guaranteed or insured as provided in the Servicemen's Readjustment Act of 1944, as amended (except business loans provided by section 503 thereof and not secured by a lien on real estate), or in other loans for property alteration, repair, or improvement: Provided, That no such loan shall be made in excess of $1,500 except in conformity to the other provisions of this subsection, and that the total amount of loans so made without regard to the other provisions of this subsection shall not, at any time, exceed 15 per centum of the association's assets." Approved August 6, 1947. [PUBLIC LAW 394-80TH CONGRESS] [S. 1770] AN ACT To amend the National Housing Act, as amended. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 603 (a) of the National Housing Act, as amended, is hereby amended by striking out "$4,000,000,000” and inserting in lieu thereof "$4,450,000,000”, and by striking out "$4,200,000,000" and inserting in lieu thereof "$4,950,000,000". SEC. 2. Title VI of the National Housing Act, as amended, shall be employed to assist in maintaining a high volume of new residential construction without supporting unnecessary or artificial costs. In estimating necessary current cost for the purposes of said title, the Federal Housing Commissioner shall therefore use every feasible means to assure that such estimates will approximate as closely as possible the actual costs of efficient building operations. Approved December 27, 1947. [PUBLIC LAW 422-80TH CONGRESS] [CHAPTER 77-2D SESSION] [H. R. 5390] AN ACT To continue for a temporary period certain provisions of the Housing and Rent Act of 1947. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (a) of section 4 of the Housing and Rent Act of 1947 (Public Law 129, Eightieth Congress), is hereby amended by striking out "March 1, 1948," wherever it occurs and inserting in lieu thereof "April 1, 1948,”. SEC. 2. Subsection (a) of section 204 of the Housing and Rent Act of 1947 is hereby amended by striking out "February 29, 1948" and inserting in lieu thereof " the close of March 31, 1948". Subsection (f) of such section 204 is hereby amended by striking out "on February 29, 1948" and inserting in lieu thereof "at the close of March 31, 1948”. SEC. 3. Section 2 of Public Law 301, Eightieth Congress, approved July 31, 1947 (relating to eviction of tenants from publicly operated housing accommodations), is hereby amended by striking out "March 1, 1948," and inserting in lieu thereof "April 1, 1948,". Approved February 27, 1948. (222) |