Page:United States Statutes at Large Volume 65.djvu/347

 65 STAT.]

PUBLIC LAW 139—SEPT. 1, 1951

(a) By striking out of section 803(a) "July 1, 1951" and substituting therefor "July 1, 1958". The amendment made by this subsection shall be effective as of July 1, 1951. (b) By inserting before the period at the end of section 803(b) (3)(C) the following: ": Provided, That the Commissioner may by regulation increase the $8,100 limitation by not exceeding $900 in any geographical area where he JSnds that cost levels so require". (c) By inserting after the words "National Military Establishment" in the last sentence of section 803(d) the words "or the Atomic Energy Commission". (d) By adding at the end thereof the following new section: "SEC. 810. A mortgage which meets all of the eligibility requirements of this title except those specified in section 803(b)(2) and which is secured by property designed for rent for residential use by personnel of the Atomic Energy Commission (including military personnel and Government contractors' employees) employed or assigned to duty at the Atomic Energy Commission installation at or in the area in which such property is constructed shall be eligible for insurance under this title if the Atomic Energy Commission or its designee shall have certified to the Commissioner that the housing with respect to which the mortgage is made is necessary to provide adequate housing for such personnel, that such installation is deemed to be a permanent part of the Atomic Energy Commission establishment, and that there is no present intention to substantially curtail activities at such installation. Notwithstanding the provisions of any other law, preference or priority of opportunity in the occupancy of the mortgaged property for such personnel and their immediate families shall be provided under such regulations and procedures as may be prescribed by the Commissioner. To effectuate the purpose of this title the Atomic Energy Commission or its designee is authorized to exercise all the authority granted to the Secretary of Defense or the Secretary of the Army, Navy, or Air Force pursuant to this title. Nothing herein contained shall impair the powers vested in the Atomic Energy Commission by the Atomic Energy Act of 1946." SEC. 602. (a) Section 605 of the Defense Production Act of 1950, as amended, is amended by striking out the period in the first sentence and inserting in lieu thereof the following: ": And provided further, That no more than 4 per centum down payment shall be required in connection with the loan on any home made or guaranteed by the Veterans' Administration pursuant to the Servicemen's Readjustment Act of 1944, as amended, and the sales price of which home does not exceed $7,000; and no more than 6 per centum down payment shall be required in connection with any such loan where the sales price exceeds $7,000 but does not exceed $10,000; and no more than 8 per centum down payment shall be required in connection with any such loan where the sales price exceeds $10,000 but does not exceed $12,000." (b) The Defense Production Act of 1950, as amended, is further amended by adding after section 605 the following new section: "SEC. 606. Not more than 10 per centum down payment shall be required pursuant to section 602 or section 605 of this Act in connection with the loan on any home not made or guaranteed by the Veterans' Administration and the transaction price of which home does not exceed $7,000; nor more than 15 per centum in connection with any such loan on any home the transaction price of which exceeds $7,000 but does not exceed $10,000; nor more than 20 per centum in connection with any such loan on any home the transaction price of which exceeds $10,000 but does not exceed $12,000. The term of any loan referred to in the preceding sentence or in the last proviso of section 605 shall not be required to be less than twenty-five years."

313 12 U.S.C. § 1748b.

Atomic Enerj;y Commission personnel. Mortgage-insurance eligibility.

60 Stat. 775. 42 U.S.C. § lliOl note. Defense Production Act of 1950, amendments. 64 Stat. 813. 50 U.S.C. a p p. § 2135. 58 Stat. 284. 38 U.S.C.§693note.

Down payment requirements. 50 U.S.C. a p p. §§ 2132, 2135.

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