Page:United States Statutes at Large Volume 65.djvu/351

This page needs to be proofread.


65 STAT.1

317

PUBLIC LAW 139—SEPT. 1, 1951

veteran's entitlement for real estate purposes is properly chargeable on account of prior loans, nor shall the gratuity payable under subsection (c) of section 500 of this title exceed that which is payable on loans guaranteed in accordance with the maxima provided for in subsection (a) of section 500 of this title." SEC. 614. (a) Section 512(b) of the Servicemen's ReadjUvStment Act of 1944 is amended (1) by striking out clause (C); and (2) by striking out "June 30, 1951" and inserting in lieu thereof "June 30, 1953". (b) Section 512(d) of the Servicemen's Readjustment Act of 1944 is amended to read as follows: " (d) The Administrator is authorized to sell, and shall ojffer for sale, to any private lending institution evidencing ability to service loans, any loan made under this section at a price not less than p a r; that is, the unpaid balance plus accrued interest, and may guarantee any loan thus sold subject to the same conditions, terms, and limitations which would be applicable were the loan guaranteed under section 501(b) of this title." (c) The first sentence of section 513(a) of the Servicemen's Readjustment Act of 1944 is amended to read as follows: "For the purposes of section 512 of this title, the Secretary of the Treasury is hereby authorized^ and directed to make available to the Administrator such sums not in excess of $150,000,000 (plus the amount of any funds which may have been deposited to the credit of miscellaneous receipts under subsections (a) and (c) hereof), as the Administrator shall request from time to time except that no sums may be made available after June 30, 1953." (d) Section 513(c) of the Servicemen's Readjustment Act of 1944 is amended by striking out "June 30, 1952" and inserting in lieu thereof "June 30, 1954". SEC. 615. The Secretary of Defense or his designee shall hereafter be included in the membership of the National Housing Council in the Housing and Home Finance Agency, and the Chairman of the Board of Directors of the Reconstruction Finance Corporation or his designee shall not hereafter be included in the membership of said Council. SEC. 616. During the period from the date of the approval of this Act to and including the expiration date specified in section 104 hereof, no project shall be initiated, and the income limitations contained in the United States Housing Act of 1937, as amended, shall not be waived or suspended, pursuant to the authorization therefor in title II of Public Law 671, Seventy-sixth Congress, approved June 28, 1940. SEC. 617. Insofar as the provisions of any other law are inconsistent with the provisions of this Act, the provisions of this Act shall be controlling. SEC. 618. Except as may be otherwise expressly provided in this Act, all powers and authorities conferred by this Act shall be cumulative and additional to and not in derogation of any powers and authorities otherwise existing. Notwithstanding any other evidence of the intention of Congress, it is hereby declared to be the controlling intent of Congress that if any provisions of this Act, or the application thereof to any persons or circumstances, shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act or its application to other persons and circumstances, but shall be confined in its operation to the provisions of this Act or the application thereof to the persons and circumstances directly involved in the controversy in which such judgment shall have been rendered. Approved September 1, 1951.

38 U.S.C. §694Z.

Sale of loans.

38 U.S.C. §694m.

Ante, p. 295. 50 Stat. 888. 42 U.S.C. I 1430. 54 Stat. 681. 42 U.S.C. §§ 15011505.

Cumulative powers of Act.

Separability.