Page:United States Statutes at Large Volume 87.djvu/1009

 87 STAT.]

PUBLIC LAW 9 3 - 2 3 4 - D E C. 31, 1973

977

(4) "financial assistance for acquisition or construction purposes" means any form of financial assistance which is intended in whole or in part for the acquisition, construction, reconstruction, repair, or improvement of any publicly or privately owned building or mobile home, and for any machinery, equipment, fixtures, and furnishings contained or to be contained therein, and shall include the purchase or subsidization of mortgages or mortgage loans but shall exclude assistance for emergency work essential for the protection and preservation of life and property performed pursuant to the Disaster Relief Act of 1970 or any 42u?c44o/' subsequent Act of Congress which supersedes or modifies the note. Disaster Relief Act of 1970; (5) "Federal instrumentality responsible for the supervision, approval, regulation, or insuring of banks, savings and loan associations, or similar institutions" means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Federal Home Loan Bank Board, the Federal Savings and Loan Insurance Corporation, and the National Credit Union Administration; and (6) "Secretary" means the Secretary of Housing and Urban Development. (b) The Secretary is authorized to define or redefine, by rules and regulations, any scientific or technical term used in this Act, insofar as such definition is not inconsistent with the purposes of this Act. TITLE I—EXPANSION OF NATIONAL FLOOD INSURANCE PROGRAM IXCREASED LIMITS OF COVERAGE

SEC. 101. (a) Section 1306(b)(1)(A) of the National Flood Insurance Act or 1968 is amended to read as follows: " (A) in the case of residential properties— "(i) $35,000 aggregate liability for any single-family dwelling, and $100,000 for any residential structure containing more than one dwelling unit, "(ii) $10,000 aggregate liability per dwelling unit for any contents related to such unit, and ''(iii) in the States of Alaska and Hawaii, and in the Virgin Islands and Guam, the limits provided in clause (i) of this sentence shall be: $150,000 aggregate liability for any single-family dwelling, and $150,000 for any residential structure containing more than one dwelling unit;".

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