Page:United States Statutes at Large Volume 75.djvu/203

 75

STAT.]

PUBLIC

LAW 87-70-JUNE 30, 1961

(3) striking out in subsection (a)(3) "A loan to a corporation under this section" and inserting in lieu thereof "A loan under this section"; and (4) striking out in subsection (c)(3) "corporation undertaking" and inserting in lieu thereof "corporation, cooperative, or public body or agency undertaking". (b) Section 202(a)(3) of such Act is amended by striking out "98 per centum of". (c) Section 202(a)(4) of such Act is amended by striking out "$50,000,000" and inserting in lieu thereof "$125,000,000", and by striking out the second sentence. (d) Section 202 of such Act is further amended by adding at the end thereof the following new subsection: "(e) Nothing in this section or in regulations promulgated under this section shall prevent a corporation or consumer cooperative from obtaining a loan under this section for the provision of housing and related facilities for elderly families and elderly persons, notwithstanding the fact that such corporation or cooperative has theretofore obtained a commitment from the Federal Housing Administration for mortgage insurance under section 231 of the National Housing Act with respect to the housing involved, if (1) such corporation or cooperative is otherwise eligible for such loan under this section, (2) such commitment was obtained prior to the date of enactment of the Housing Act of 1961, and (3) the Administrator determines that the financing of such housing through a loan under this section rather than through mortgage insurance under such section 231 is necessary or desirable in order to avoid hardship for the elderly families and elderly persons who are the prospective tenants of such housing."

163 H use Ivbiq.

Exception,

^^ ^^^ ivisv.

LOW-RENT PUBLIC HOUSING ELIGIBILITY REQUIREMENT FOR DISABLED PERSONS

SEC. 202. Section 2 of the United States Housing Act of 1937 is amended by striking out the words "has attained the age of fifty and" in the second and third sentences of paragraph (2), and by striking out paragraph (14) and renumbering paragraph (15) as paragraph (14).

H us^c uai.

ADDITIONAL SUBSIDY FOR ELDERLY T E N A N T S

SEC. 203. Section 10(a) of the United States Housing Act of 1937 is amended by inserting the following proviso before the period at the end of the third sentence thereof: '^: Provided, That the Authority may, in addition to the payments guaranteed under the contract, pay not to exceed $120 per annum per dwelling unit occupied by an elderly family on the last day of the project fiscal year where such amount, in the determination of the Authority, was necessary to enable the public housing agency to lease the dwelling unit to the elderly family at a rental it could afford and to operate the project on a solvent basis".

^2 USC i4io.

DWELLING U N I T AUTHORIZATION

SEC. 204. (a) Section 10(e) of the United States Housing Act of 1937 is amended by striking out the first three sentences and inserting in lieu thereof the following: "The Authority is authorized to enter into contracts for annual contributions aggregating not more than $336,000,000 per annum, but any such contracts for additional units for any one State shall not, after the date of enactment of the Housing Act of 1961, be entered into for more than 15 per centum of the aggregate amount not already guaranteed under contracts for annual con-

e s Stat. 4:!7.

�