Page:United States Statutes at Large Volume 80 Part 1.djvu/834

 798 22 USC 2174. 75 Stat. 428.

79 Stat. 654.

PUBLIC LAW 89-583-SEPT. 19, 1966

[80 STAT.

^^^ Section 214, which relates to American schools and hospitals abroad, is amended as follows: ^^^ jj^ subsectioH (b), strike out "to hospitals outside the United States founded or sponsored by United States citizens and serving as centers for medical education and research" and insert in lieu thereof "to institutions referred to in subsection (a) of this section, and to hospital centers for medical education and research outside the United States, founded or sponsored by United States citizens". (2) Subsection (c), which relates to authorization, is amended by striking out "1966, $7,000,000" and inserting in lieu thereof "1967, $10,989,000". (3) At the end of such section add the following new subsection: " (d) There is authorized to be appropriated to the President for the purposes of section 214(b), in addition to funds otherwise available for such purposes, for the fiscal year 1967, $1,000,000 in foreign currencies which the Secretary of the Treasury determines to be excess to the normal requirements of the United States." TITLE III—INVESTMENT GUARANTIES

22 USC 2181.

22 USC 2182.

22 USC 2184. 79 Stat. 655.

SEC. 104. Title III of chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to investment guaranties, is amended as follows: (a) Section 221(b), which relates to general authority for investment guaranties, is amended as follows: (1) I n paragraph (1), strike out "$5,000,000,000" and insert in lieu thereof "$7,000,000,000" (2) I n the third proviso of paragraph (2), strike out "$300,000,000" and "$175,000,000" and insert in lieu thereof "$375,000,000" and "$215,000,000", respectively, and strike out "Federal Housing Administration" and insert in lieu thereof "Department of Housing and Urban Development". (3) I n the fourth proviso of paragraph (2), strike out "1967" and insert in lieu thereof "1969". ^1^^ Section 222, which relates to general provisions, is amended by adding at the end thereof the following new subsection: " (h) I n the case of any loan investment for housing guaranteed under section 221(b)(2) or section 224, the Administrator of the Agency for International Development shall prescribe the rate of interest allowable to the eligible United States investor, which rate shall not be less than one-half of 1 per centum above the then current rate of interest applicable to housing mortgages insured by the Department of Housing and Urban Development. I n no event shall the Administrator prescribe an allowable rate of interest which exceeds by more than 1 per centum the then current rate of interest applicable to housing mortgages insured by such Department." ^g^ Section 224, which relates to housing projects in Latin American countries, is amended as follows: (1) I n subsection (b)(1), strike out "Federal Housing Administration" and insert in lieu thereof "Department of Housing and Urban Development". (2) In subsection (c), strike out "$400,000,000" and insert in lieu thereof "$450,000,000: Provided, That $300,000,000 be used for the purposes of section 224(b)(1)". (3) In the last proviso of subsection (c), strike out "1967" and insert in lieu thereof "1969".

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