Page:United States Statutes at Large Volume 80 Part 1.djvu/1326

 1290

Investment of moneys

PUBLIC LAW 89-754-NOV. 3, 1966

[80 STAT.

such fund shall consist of such sums as may, from time to tmie, be appropriated thereto, and any sums so appropriated shall remain available until expended. Receipts arising from the programs of assistance under subsection (c) shall be credited to the fund from which such assistance was extended. Moneys in either of such funds not needed for current operations, as determined by the Secretary of Housing and Urban Development, or the Administrator of Veterans' Affairs, as the case may be, shall be invested in bonds or other obligations of the United States, or paid into the Treasury as miscellaneous receipts." ACQUISITION OF CERTAIN PROPERTIES SITUATED A T OR N E A R BASES W H I C H H A V E B E E N ORDERED TO BE CLOSED

MILITARY

SEC. 1013. (a) Notwithstanding any other provision of law, the Secretary of Defense is authorized to acquire title to, hold, manage, and dispose of, or, in lieu thereof, to reimburse for certain losses upon private sale of, or foreclosure against, any property improved with a one- or two-family dwelling which is situated at or near a military base or installation which the Department of Defense has, subsequent to November 1, 1964, ordered to be closed in whole or in part, if he determines— (1) that the owner of such property is, or has been, a Federal employee employed at or in connection with such base or installation (other than a temporary employee serving under a time limitation) or a serviceman assigned thereto; (2) that the closing of such base or installation, in whole or in part, has required or will require the termination of such owner's employment or service at or in connection with such base or installation; and (3) that as the result of the actual or pending closing of such base or installation, in whole or in part, there is no present market for the sale of such property upon reasonable terms and conditions. (b) In order to be eligible for the benefits of this section such employees or military personnel must be or have been— (1) assigned to or employed at or in connection with the installation or activity at the time of public announcement of the closure action, (2) transferred from such installation or activity, or terminated as employees as a result of reduction-in-force, within six months prior to public announcement of the closure action, or (3) transferred from the installation or activity on an overseas tour unaccompanied by dependents within fifteen months prior to public announcement of the closure action: Provided, That,, at the time of public announcement of the closure action, or at the time of transfer or termination as set forth above, such personnel or employees must— (i) have been the owner-occupant of the dwelling, or (ii) have vacated the owned dwelling as a result of being ordered into on-post housing during a six-month period prior to the closure announcement: Provided further. That as a consequence of such closure such employees or personnel must— (i) be required to relocate because of military transfer or acceptance of employment beyond a normal commuting distance from the dwelling for which compensation is sought, or (ii) be unemployed, not as a matter of personal choice, and able to demonstrate such financial hardship that they are unable to meet their mortgage payments and related expenses.

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