Page:United States Statutes at Large Volume 82.djvu/644

 602

PUBLIC LAW 90-448-AUG. 1, 1968

[82 STAT.

PERIODIC REPORTS

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^^^- ^^^'^' 9 ^ JHuary 15, 1970, and on each succeeding year through 1979, the President shall submit to the Congress a report which shall— (1) compare the results achieved during the preceding fiscal year for the completion of new or rehabilitating housing units and the reduction in occupied substandard housing with the objectives established for such year under the plan; (2) if the comparison provided under clause (1) shows a failure to achieve the objectives set for such year, indicate (A) the reasons for such failure; (B) the steps being taken to achieve the objectives of the plan during each of the remaining fiscal years of the ten-year period; and (C) any necessary revision in the objectives established under the plan for each such year; (3) project residential mortgage market needs and prospects for the coming calendar year including an estimate of the requirements with respect to the availability, need, and flow of mortgage funds (particularly in declining urban and rural areas) during such period, in order to achieve the objectives of the plan; (4) provide an analysis of the monetary and fiscal policies of the Government for the coming calendar year required to achieve the objectives of the plan and the impact upon the domestic economy of achieving the plan's objectives for such period; (5) make recommendations with respect to any additional legislative or administrative action which is necessary or desirable to achieve the objectives of the plan; and (6) provide such other pertinent data, estimates, and recommendations as the President deems advisable. COMMISSION ON MORTGAGE INTEREST RATES

7o"tlr*inV' 12 USC i7oie i7oid-3. Ante, p. 114.

SEC. 1604. Funds appropriated and available for studies of housing markets and credit a,s authorized by section 301 of the Housing Act of ^^^^ ^^^ section 602(a) of the Housing Act of 1956 shall be available for expenses of the Commission established by section 4(b) of Public i^aw 90-301, including the report required to be rendered by such /-,

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Commission. TITLE XVII—MISCELLANEOUS MODEL CITIES


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SEC. 1701. (a) Section 111(a) of the Demonstration Cities and Metropolitan Development Act of 1966 is amended— (1) by striking out "and" the third time it appears,; and (2) by inserting before the period at the end thereof ", and not to exceed $12,000,000 for the fiscal year ending June 30, 1969". (b) Section 111(b) of such Act is amended— (1) by striking out "and" the third time it appears; and (2) by inserting before the period at the end thereof ", and not to exceed $1,000,000,000 for the fiscal year ending June 30, 1970". (c) Section 111(c) of such Act is amended to read as follows: "(c) Any amounts appropriated under this section shall remain available until expended, and any amounts authorized for any fiscal year under this section but not appropriated may be appropriated for any succeeding fiscal year commencing prior to July 1, 1970."

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