PUBLIC LAWS-CH. 338-JULY 15,1949
Projects in rural
nonfarm areas.
Construction of
dwelling units.
Construction with-
out further authoriza-
tion.
Construction in any
fiscal year.
50 Stat. 891.
42U.S.C.§1410
(a).
Post, p. 430 .
Requirement of tax-
ation exemption.
Payments in lieu of
taxes.
Contribution by
State, etc.
Payments in lieu of
taxes.
by additional amounts aggregating not more than $55,000,000 upon a
determination by the President, after receiving advice from the Council
of Economic Advisers as to the general effect of such increase upon
conditions in the building industry and upon the national economy, that
such action is in the public interest: And provided further, That 10
per centum of each amount of authorization to enter into contracts for
annual contributions becoming available hereunder shall, for a period
of three years after such amount of authorization becomes available,
be available only for annual contributions contracts with respect to
projects to be located in rural nonfarm areas. With respect to projects
initated after March 1, 1949, the Authority may authorize the com-
mencement of construction of not to exceed one hundred and thirty-five
thousand dwelling units after July 1, 1949, which limit shall be
increased by further amounts of one hundred and thirty-five thousand
dwelling units on July 1 in each of the years 1950 through and includ-
ing 1954, respectively: Provided,That (subject to the authorization of
not to exceed eight hundred and ten thousand dwelling units) such
limit, and any such authorized increase therein, may be increased at any
time or times by additional amounts aggregating not more than sixty-
five thousand dwelling units, or may be decreased at any time or times
by amounts aggregating not more than eighty-five thousand dwelling
units, upon a determination by the President, after receiving advice
from the Council of Economic Advisers as to the general effect of such
increase or decrease upon conditions in the building industry and upon
the national economy, that such action is in the public interest: And
provided further2 That contracts for annual contributions with respect
to low-rent housing projects initiated after March 1, 1949, shall not
provide for the commencement of construction of more than eight
hundred and ten thousand dwelling units without further authorization
from the Congress: And provided further, That in no event shall the
Authority permit the commencement of construction of more than two
hundred thousand dwelling units in any fiscal year."; and
(b) By deleting the third sentence of subsection 10 (a) and adding
the following new subsection to section 10:
"(h) Every contract made pursuant to this Act for annual con-
tributions for any low-rent housing project initiated after March 1,
1949, shall provide that no annual contributions by the Authority
shall be made available for such project unless such project is exempt
from all real and personal property taxes levied or imposed by the
State, city, county, or other political subdivisions, but such contract
may authorize the public housing agency to make payments in lieu
of such taxes in an annual amount not in excess of 10 per centum of
the annual shelter rents charged in such project: Provided,That, with
respect to any such project to be located in any State where, by reason
of constitutional limitations or otherwise, such project is not exempt
from all real and personal property taxes levied or imposed by the
State, city, county, or other political subdivision, such contract may
provide, in lieu of the requirement for tax exemption and the authori-
zation of payments in lieu of taxes, that no annual contributions by
the Authority shall be made available for such project unless and
until the State, city, county, or other political subdivision in which
such project is situated shall contribute, in the form of cash, at least
20 per centum of the annual contributions paid by the Authority. In
respect to low-rent housing projects initiated prior to March 1, 1949,
the Authority may, after the effective date of the Housing Act of 1949,
authorize payments in lieu of taxes for each of the project fiscal years
in respect to which annual contribution dates occurred during the
two-year period ending June 30, 1949, in amounts which, together
with amounts already paid, will not exceed the greater of either (i)
428
[63 STAT.
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