Page:United States Statutes at Large Volume 60 Part 1.djvu/241

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PUBLIC LAWS-CH. 268-MAY 22,1946 56 Stat. 303. 12 U. S. C., Supp. V, § 1743 (b). Preference or prior- ity of opportunity. 56 Stat. 303. 12 U. S. C., Supp. V, § 1743 (c). Premium pay- ments. 58 Stat. 635. 50 U. S. C., Supp. V, app. §902 (e). Ante, p. 57; post, p.671. Standards applica- ble to premium pay- ments. Restriction on use of funds. (f) Section 608 (b) of the National Housing Act, as amended, is hereby amended: (1) by amending paragraph numbered (2) thereof to read as follows: "(2) Preference or priority of opportunity in the occupancy of the mortgaged property for veterans of World War II and their imme- diate families, and for hardship cases as defined by the Administrator, shall be provided under such regulations and procedures as may be prescribed by the Administrator."; (2) by amending paragraph (3) (C) to read as follows: "(C) not to exceed $1,500 per room for such part of such prop- erty or project as may be attributable to dwelling use: Provided, That the Administrator may increase this amount to $1,800 where in his discretion cost levels so require."; and (3) by striking out "reasonable replacement cost" and inserting in lieu thereof "necessary current cost". (g) Section 608 (c) of the National Housing Act, as amended, is hereby amended by inserting in the third sentence before the semicolon at the end of clause (C), the following: "and any mortgage insurance premiums paid after default". SEC. 11 . (a) The last paragraph of section 2 (e) of the Emergency Price Control Act of 1942, as amended (50 U. S. C. 902 (e)), shall not apply to subsidies, which the Reconstruction Finance Corporation may make hereunder, in the form of premium payments used only to the extent that the Housing Expediter (after considering all available means) finds them temporarily necessary to increase the supply of materials for the veterans' emergency housing program and for other construction, maintenance, and repair essential to the national well- being: Provided, That not more than $400,000,000 shall be used for such premium payments. (b) The following standards shall be applied by the Housing Expediter to premium payments: (1) Premium payments shall be used only temporarily and only with relation to additional units of production beyond that other- wise attainable (as determined by the Housing Expediter by general regulation for the industry involved), where such premium payments are necessary to stimulate such additional production with greater rapidity, economy, or certainty than other available methods. (2) The value of the units of production to which premium pay- ments are applied (A) in the case of any new producer (except of new type materials) shall not exceed 50 per centum of the value at the producers' level of the output of such producer, and (B) in the aggregate shall not exceed 30 per centum of the value at the producers' level of all materials needed for the veterans' emergency housing program and for other construction, maintenance, and repair essential to the national well-being. The average rate of premium payments shall not exceed 25 per centum of the value of the units of production to which they are applied. (3) Premium payments shall wherever feasible be applied at a uniform rate within any industry requiring them, rather than at varying rates for each producer. (4) The stimulation of necessary additional production by premium payments shall place emphasis upon avoiding either economic dis- locations or adverse effects upon established business. (5) New type materials to which premium payments are applied shall be tested for sound quality. (c) Not more than $15,000,000 of the funds made available under this section may be used to the extent that other funds are unavailable for the construction of access roads to standing timber on lands owned by or under the jurisdiction of an agency of Government. [60 STAT.