PUBLIC LAWS-CI. 403-AUG. 8, 1949 Lease of property by armed services. 10 U. S. C., Supp. II, §5 1270-1270b, 270d; 34 U. S. C., Supp. II, §§ 522a-522c, 522e. Sale, etc., of prop- erty. Ante, p. 57 . Nonapplicability to Alaska. Taxation of real property. Rules and regula- tions. 48 Stat. 1246, 1247. 12 (J. S. ('., Supp. II, §§ 1702, 1706. P'ost, 1p.905. 53 Stat. 807. 12 U. S .C. I 1715e(a). 48 Stat. 1252. 12 U. S. C., Supp. 11, § 1716 (a). Post, p . 906. 10 U. S. C., Supp. II,§1269;34U.S.C., Supp. II, J 553a. or claim assigned to the Commissioner and from any property acquired by the Commissioner, and all earnings on the assets of the Military Housing Insurance Fund, shall be credited to the Military Housing Insurance Fund. The principal of and interest paid and to be paid on debentures issued in exchange for any mortgage or property insured under this title, cash adjustments, and expenses incurred in the han- dling of such mortgages or property and in the foreclosure and collec- tion of mortgages and claims assigned to the Commissioner under this title, shall be charged to the Military Housing Insurance Fund. "SEC. 805. Whenever the Secretary of the Army, Navy, or Air Force determines that it is desirable to lease real property within the mean- ing of the Act of August 5, 1947 (61 Stat. 774), to effectuate the pur- poses of this title, the Secretary concerned is authorized to lease such property under the authority of said Act upon such terms and con- ditions as in his opinion will best serve the national interest without regard to the limitations imposed by said Act in respect to the term or duration of the lease, and the power vested in the Secretary of the Department concerned to revoke any lease made pursuant to said Act in the event of a national emergency declared by the President shall not apply. Whenever the Secretary of the Army, Navy, or Air Force determines it to be in the interest of national defense, he is hereby authorized to sell, transfer, and convey at fair value (as determined by him), for use under this title, all or any right, title, and interest in any real property under his jurisdiction, notwithstanding any limi- tations or requirements of law with respect to the use or disposition of such property. The authority conferred by this section shall be in addition to and not in derogation of any other power or authority of the Secretary of the Army, Navy, or Air Force. "SEC. 806. The second sentence of section 214 of the National Hous- ing Act, as amended, relating to housing in the Territory of Alaska, shall not apply to mortgages insured under this title on property in said Territory. "SEC. 807. Nothing in this title shall be construed to exempt any real property acquired and held by the Commissioner under this title from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed. "SEC. 808. The Commissioner is authorized and directed to make such rules and regulations as may be necessary to carry out the pro- visions of this title." SEC. 2 . Sections 1 and 5 of the National Housing Act, as amended, are further amended by striking out the words "titles II, III, VI, and VII"' each time they appear and inserting in lieu thereof the words "titles II, III, VI, VII, and VIII". SEC. 3 . Section 212 (a) of said Act, as amended, is further amended by striking out the words "effective date of this section," and inserting in lieu thereof the words "effective date of this section, or under title VIII,". SEC. 4. Section 301 (a) of said Act, as amended, is further amended- (1) By striking out of paragraph (1) the words "under title II, or title VI' and inserting in lieu thereof the words "under title II, title VI, or title VIII"; and (2) By striking out the period and adding the following proviso at the end of paragraph (1) (E): ": Provided, That such aggregate amount paid by the Association shall not include any amount paid by it for a mortgage or mortgages which are insured under title VIII of this Act; and". SEC. 5. (a) Section 1 of the Act of July 30, 1947 (61 Stat. 675), is hereby amended to read as follows: 576 [63 STAT.