Page:United States Statutes at Large Volume 60 Part 1.djvu/239

This page needs to be proofread.


PUBLIC LAWS-CH. 268 -MAY 22, 1946 "Person." "District court. " "Veterans of World War II." Appropriation au- thorized. 59 Stat. 635 . Loans. 55 Stat. 56 . 12U. S . C., Supp. V, § 1738 (a). Insurance of eligible mortgages. Aggregate amount. Time limitation. Rental of mortgaged property. such housing accommodations with accompanying land and improve- ments, excluding only those incidental charges, such as brokerage fees or commissions or charges, which buyers or sellers of such housing accommodations customarily assume in the community where such accommodations are located and which actually have been incurred for services rendered at the buyer's or seller's request. (b) The term "person" includes an individual, corporation, part- nership, association, or any other organized group of any of the foregoing, or legal successor or representative of any of the fore- going. (c) The term "district court" means any district court of the United States, and the United States court for any Territory or other place subject to the jurisdiction of the United States. (d) The term "veterans of World War II" shall include persons who have served in the active military or naval forces of the United States on or after September 16, 1940, and prior to the termination of hostilities in World War II, and who have been discharged or released therefrom under conditions other than dishonorable, and persons serving in the military or naval forces of the United States requiring housing accommodations for their dependent families. SEC. 9 . There are authorized to be appropriated such sums as may be necessary to carry out the provisions and purposes of this Act: Provided, however, That so much of the First Deficiency Appropri- ation Act, 1946 (Public Law Numbered 269, Seventy-ninth Congress, approved December 28, 1945), as reads "Provided, That none of the funds available under this head for administrative expenses shall be used in paying the salary of any person engaged in making or process- ing loans in excess of $500,000 to any State, any subdivision thereof, any municipality therein, or any public authority, for construction purposes, unless in pursuance of a specific authorization, except, how- ever, that this provision shall not apply to any application or loan approved or made prior to December 15, 1945", shall not apply to loans made for construction, removal, or remodeling of housing by publicly supported educational institutions where made for the pur- poses of housing veterans enrolled and attending such institution. SEC. 10. (a) Section 603 (a) of the National Housing Act, as amended, is hereby amended to read as follows: "(a) In order to assist in relieving the acute shortage of housing which now exists and to increase the supply of housing accommoda- tions available to veterans of World War II at prices within their reasonable ability to pay, the Administrator is authorized, upon appli- cation by the mortgagee, to insure as hereinafter provided any mortgage which is eligible for insurance as hereinafter provided, and, upon such terms as the Administrator may prescribe, to make commitments for the insuring of such mortgages prior to the date of their execution or disbursement thereon: Provided,That the aggre- gate amount of principal obligations of all mortgages insured under this title shall not exceed $2,800,000,000 except that with the approval of the President such aggregate amount may be increased to not to exceed $3,800,000,000: Provided further, That no mortgage shall be insured under this title after June 30, 1947, except (A) pursuant to a commitment to insure issued on or before June 30, 1947, or (B) a mortgage given to refinance an existing mortgage insured under this title and which does not exceed the original principal amount and unexpired term of such existing mortgage: And provided further, That the Administrator shall, in his discretion, have power to require the availability for rental purposes of properties covered by mortgages 212 [60 STAT.