Page:United States Statutes at Large Volume 70.djvu/1165

 70 S T A T. ]

PUBLIC LAW 1020-AUG. 7, 1956

1109

Housing Authority of the City of Los Angeles (California), $104,765.05. Housing Authority of the City of Monroe (Louisiana), $1,560.76. Housing Authority of the City of Dothan (Alabama), $1,238.46. Housing Authority of the City of Sacramento (California), $26,628.29. Cincinnati Metropolitan Housing Authority (Ohio), $59,576.64. Housing Authority of the City of Tampa (Florida), $22,959.85. TITLE V—MH^ITAKY H O U S I N G ARMED SERVICES H O U S I N G MORTGAGE INSURANCE

SEC. 501. Section 801(g) of the National Housing Act is amended to read as follows: " (g) The term 'State' includes the several States, and Alaska, Hawaii, Puerto Rico, the District of Columbia, Guam, the Virgin Islands, the Canal Zone, and Midway Island." SEC. 502. Section 803(a) of such Act is amended by striking out "September 30, 1956" and inserting in lieu thereof "June 30, 1958". SEC. 503. Section 803(a) of such Act is further amended by striking out the first proviso and inserting in lieu thereof the following: ": Provided, That the aggregate amount of principal obligations of all mortgages insured under this title (except mortgages insured pursuant to the provisions of this title in effect prior to the enactment of the Housing Amendments of 1955) shall not exceed $2,300,000,000". SEC. 504. Section 803(b)(2) of such Act is amended by striking out all that follows clause (i) and inserting in lieu thereof the following: ", and (ii) with the approval of the Commissioner, shall have determined that adequate housing is not available for such personnel at reasonable rentals within reasonable commuting distance of the installation and that the mortgaged property will not, so far as can reasonably be foreseen, substantially curtail occupancy in existing housing covered by mortgages insured under this Act. The housing accommodations shall comply with such standards and conditions as the Commissioner may prescribe to establish the acceptability of such property for mortgage insurance, except that the certification of the Secretary of Defense or his designee shall (for purposes of mortgage insurance under this title) be conclusive evidence to the Commissioner of the existence of the need for such housing. Howover, if the Commissioner does not concur in the housing needs as certified by the Secretary, the Commissioner may require the Secretary to guarantee the Armed Services Housing Mortgage Insurance Fund against loss with respect to the mortgage covering such housing. The Commissioner shall report to the Committees on Banking and Currency of the Senate and the House of Representatives each instance in which he has required the Secretary to guarantee the Armed Services Housing Mortgage Insurance Fund, with reasons therefor. There are hereby authorized to be appropriated such sums as may be necessary to provide for payment to meet losses arising from such guaranty." SEC. 505. Section 803(b)(3)(B) of such Act is amended to read as follows: " (B) not to exceed an average of $16,500 per family unit for such part of such property or project (including ranges, refrigerators, shades, screens, and fixtures) as may be attributable to dwelling use: Provided, That the replacement cost of the property or project as determined by the Commissioner, including the estimated value of any usable utilities within the boundaries

69 Stat. 646. 12 USC 1748.

69 Stat. 647. 12 USC 1748b.

69 Stat. 647. 12 USC 1748b.

Report to e o n g r e s s i o n a l committees.

Appropriation,,

69 Stat. 648. 12 USC 1748b.

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