Page:United States Statutes at Large Volume 88 Part 1.djvu/730

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PUBLIC LAW 93-383-AUG. 22, 1974

[88 STAT.

AMENDMENT TO M A K E PUBLIC H O U S I N G AGENCIES ELIGIBLE AS MORTGAGORS U N D E R SECTION 2 2 1 (d)(3) O F THE N A T I O N A L H O U S I N G ACT 12 USC 1715^

42 USC 1430. 42 USC 1408.

12 USC 1715^ note.

42 USC 1408. 26 USC 1 et

SEC. 319. (a) Section 221(d)(3) of the National Housing Act is amended by striking out "(and which certifies that it is not receiving financial assistance from the United States exclusively pursuant to the United States Housing Act of 1937)" and inserting m lieu thereof "(and, except with respect to a project assisted or to be assisted pursuant to section 8 of the United States Housing Act of 1937, which certifies that it is not receiving financial assistance from the United States exclusively pursuant to such Act)". (b) With respect to any obligation secured by a mortgage which is insured under section 221(d)(3) of the National Housing Act and issued by a public agency as mortgagor in connection with the financing of a project assisted under section 8 of the United States Housing Act of 1937, the interest paid on such obligation shall be included in gross income for purposes of chapter 1 of the Internal Revenue Code of 1954. TITLE IV—COMPREHENSIVE PLANNING COMPREHENSIVE PLANNING

40 USC 4 6 1.

Ante,

p. 633.

42 USC 3334.

42 USC 4231.

SEC. 401. (a) Section 701(a) of the Housing Act of 1954 is amended— (1) by striking out "State planning agencies" in paragraph (1) and inserting in lieu thereof "States"; (2) by striking out the numbered paragraphs following paragraph (1) and inserting in lieu thereof the following: "(2) States for State, interstate, metropolitan, district, or regional activities which may be assisted under this section; "(3) cities (including the District of Columbia) having populations of at least 50,000 according to the latest decennial census for local activities which may be assisted under this section; "(4) urban counties as defined under title I of the Housing and Community Development Act of 1974; "(5) the areawide organization in any metropolitan area which is formally charged with carrying out the provisions of section 204 of the Demonstration Cities and Metropolitan Development Act of 1966 and section 401 of the Intergovernmental CooperaQj^ ^p^ Q£ -jQgg. pY-oqyfded, That any such areawide organization, to the extent practicable, shall be composed of or responsible to the elected officials of the unit or units of general local government for the jurisdictions of which they are empowered to carry out the provisions of such Acts; " (6) Indian tribal groups or bodies; and "(7) other governmental units or agencies having special planning needs related to the purposes of this section, including but not limited to interstate regional planning commissions, and units or agencies for disaster areas, federally impacted areas, and local development districts, to the extent these needs cannot otherwise be adequately met."; and (3) by striking out the part which follows the numbered paragraphs and inserting in lieu thereof the following: "Activities assisted under this section shall, to the maximum extent feasible, cover entire areas having common or related development problems. The Secretary shall encourage cooperation in preparing and carrying out plans among all interested municipalities, political subdivisions, public agencies, and other parties in order to achieve coordinated development of entire areas. To the maximum extent feasible,

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