794
PUBLIC LAW 88-560-SEPT. 2, 1964 SMALL BUSINESS ADMINISTRATION
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[78 STAT.
LOANS
^ ^ - ^^^' Section 7(b)(3) of the Small Business Act is amended by inserting before the period at the end thereof the following: "; and the purposes of a loan made pursuant to this paragraph may, in the discretion of the Administrator, include the purchase or construction of other premises whether or not the borrower owned the premises from which it was displaced". TITLE IV—HOUSING FOR LOW-INCOME F A M I L I E S ELIGIBILITY
OF DISPLACED
INDIVIDUALS
SEC. 401. (a) Section 2(2) of the United States Housing Act of Anu ^p!*78T' ^^^'^ ^^ amended to read as follows: '42'use 1402. "(2) The term 'families of low income' means families (including elderly and displaced families) who are in the lowest income group and who cannot afford to pay enough to cause private enterprise in their locality or metropolitan area to build an adequate supply of decent, safe, and sanitary dwellings for their use. The term 'families' includes families consisting of a single person in the case of elderly families and displaced families, and includes the remaining member of a tenant family. The term 'elderly families' means families whose heads (or their spouses), or whose sole members, have attained the age at which an individual may elect to receive an old age benefit under title 42 USC 401-425. J J ^f ^]^g Social Security Act, or who are under a disability as defined 42 USC 423^* ^^ section 223 of that Act. The term 'displaced families' means families displaced by urban renewal or other governmental action." ^5 us^c ^4^ (^^ Section 10(g)(2) of such Act is amended by— (1) striking out "those displaced by urban renewal or other governmental action" and inserting in lieu thereof "displaced families"; and (2) striking out "; and" at the end thereof and inserting in lieu thereof the following: ": Pr(/vided, That in establishing such admission policies the public housing agency shall accord to families of low income such priority over single persons as it determines to be necessary to avoid undue hardship; and". ys^tat^^iet^^' (^^ Section 15(7)(b) of such Act is amended by striking out 42 USC 1415. "family displaced by urban renewal or other governmental action" and inserting in lieu thereof "displaced family". ADDITIONAL SUBSIDY FOR URBAN RENEWAL A N D LOW-RENT HOUSING DISPLACEES
SEC. 402. The first proviso in section 10(a) of the United States Housing Act of 1937 is amended to read as follows: ": Provided, That the Authority may, in addition to the payments guaranteed under the contract, pay not to exceed $120 per annum per dwelling unit occuied by an elderly family, or a displaced family if such family was isplaced by an urban renewal or low-rent housing project on or after January 27, 1964, on the last day of the project fiscal year where such amount, in the determination of the Authority, was necessary to enable the public housing agency to lease the dwelling unit to an elderly or displaced family at a rental it could afford and to operat© the project on a solvent basis, and, in the case of displaced families, if and to the extent that the average or estimated average rental for units so occupied by such families was less than the rental which the Authority determines, on the basis of the average or estimated average project rentals, would have been established m leasing the units to families which were neither elderly nor similarly displaced".
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