Page:United States Statutes at Large Volume 83.djvu/409

 83 STAT. ]

PUBLIC LAW 91-152-DEC. 24, 1969

MAXIMUM MORTGAGE A M O U N T UNDER SECTION 2 2 0 H O U S I N G PROGRAM

381 MULTIFAMILY

SEC. 104. Section 220(d)(3)(B)(i) of the National Housing Act yH^ll^'i^^^,'^'' is amended to read as follows: 12 USC nisk. "(i) not exceed $50,000,000;". MORTGAGE INSURANCE ON C O N D O M I N I U M U N I T S FOR SERVICEMEN

SEC. 105. Section 222(b)(1) of the National Housing Act is amended by inserting "or 234(c)," immediately after "221(d)(2),". ASSISTANCE P A Y M E N T S UNDER

SECTION 2 3 5 MORTGAGE

FOR PURCHASER

j^stlTi^l^^^' 12 USC 171 sm.

ASSUMING

SEC. 106. (a) Section 235(c) of the National Housing Act is amended by striking out "subsection (]*)(4)" and inserting in lieu thereof "subsection (i) or (j)(4) ". (b) Section 235(b)(2) of such Act is amended by striking out the first proviso and inserting in lieu thereof the following: ": Provided, That if any cooperative member who has received assistance payments transfers his membership and occupancy rights to another person who satisfies the eligibility requirements prescribed by the Secretary and undertakes the obligation to pay occupancy charges, the new cooperative member may qualify for assistance payments upon the filing of ail application with respect to the dwelling unit involved to be occupied by him*'.

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AUTHORIZATION FOR ASSISTANCE P A Y M E N T S UNDER SECTIONS 2 3 5 AND 23G

SEC. 107. (a) The second sentence of section 235(h) of the National Housing Act is amended by striking out "$100,000,000 on July 1, 1969, and by $125,000,000 on July 1, 1970" and inserting in lieu thereof "$125,000,000 on July 1, 1969, by $125,000,000 on July 1, 1970, and by $170,000,000 on July 1, 1971". (b) The second sentence of section 236(i)(1) of such Act is amended by striking out "$100,000,000 on July 1, 1969. and by $125,000,000 on July 1, 1970" and inserting in lieu thereof "$125,000,000 on July 1, 1969,-by $125,000,000 on July 1, 1970, and by $170,000,000 on July 1, 1971". I N T E R E S T REDUCTION P A Y M E N T S UNDER SECTION 2 36 ON CERTAIN PROJECTS F I N A N C E D U N D E R STATE OR LOCAL H O U S I N G PROGRAMS

SEC. 108. The proviso in section 236(b) of the National Housing Act is amended by striking out "with respect to a rental or cooperative housing project" and inserting in lieu thereof "with respect to a mortgage or part thereof on a rental or cooperative housing project". ASSISTANCE P A Y M E N T S W I T H RESPECT TO E X I S T I N G U N D E R SECTION 2 3 5

DWELLINGS

SEC. 109. Section 235(h)(3) of the National Housing Act is amended— (1) by inserting "and" at the end of subparagraph (A); and (2) by striking out subparagraphs (B) and (C) and inserting in lieu thereof the following: " (B) 30 per centum of the total additional amount of contracts for assistance payments authorized by appropriation Acts to be made prior to July 1, 1971,".

82 Stat. 498. 12 USC

17:L5Z-1.

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