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Total outstanding investment in low-rent programs..

McDonough, Hon. Gordon L.:

Report of Samuel Leask, Jr., Los Angeles City Administrator, on
increase in crime in public housing in the city of Los Angeles by
Chief of Police W. H. Parker

Mobile Homes Manufacturers Association:

59

467

National Association of Home Builders:

Exhibits attached to formal statement_

502-526

[blocks in formation]

Appendix F. Change in the number of families, by income class,
1949-53.

402

Letter of June 10, 1955, to Hon. Martha W. Griffiths, signed by
John C. Williamson_.

428

O'Hara, Hon. Barratt:

Communications received re H. R. 3919 and similar bills.
South Shore Commission, Chicago, Ill., letter signed John F.
O'Loughlin...

603

407

Reuther, Walter P., President, Congress of Industrial Organizations,
letter of April 20, 1955, to Senator John J. Sparkman

568

Proposed amendments to H. R. 5827-
Recommendations on FHA..

204, 206

200

HOUSING AMENDMENTS OF 1955

MONDAY, MAY 23, 1955

HOUSE OF REPRESENTATIVES,

COMMITTEE ON BANKING AND CURRENCY,

Washington, D. C.

The committee met at 10 a. m., Hon. Brent Spence, chairman, presiding.

Present: Chairman Spence (presiding), and Messrs. Brown, Patman, Rains, Multer, O'Hara, Mrs. Griffiths, Vanik, Bell, Wolcott, Talle, Kilburn, McDonough, Betts, McVey, Hiestand, and Nicholson. The CHAIRMAN. The committee will be in order.

We are met this morning to take up H. R. 5827. (The bill is as follows:)

[H. R. 5827, 84th Cong., 1st sess.]

A BILL To extend and clarify laws relating to the provision and improvement of housing, the elimination and prevention of slums, and the conservation and development of urban communties

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Housing Amendments of 1955".

FEDERAL HOUSING ADMINISTRATION

SEC. 2. Section 2 (a) of the National Housing Act, as amended, is hereby amended by striking “July 1, 1955” and inserting “July 1, 1960".

SEO. 3. Section 203 (i) of said Act, as amended, is hereby amended by striking ", the total amount of insurance outstanding at any one time under this proviso not to exceed $100,000,000".

SEC. 4. Section 204 (f) of said Act, as amended, is hereby amended by adding the following paragraph at the end thereof :

"Notwithstanding any other provisions of this section, the Commissioner is authorized, with respect to mortgages insured pursuant to commitments for insurance issued on or after July 1, 1955, and, with the consent of the mortgagee or mortgagor, as the case may be, with respect to mortgages insured pursuant to commitments issued prior to such date, to effect the settlement of certificates of claim and refunds to mortgagors at any time after the sale or transfer of title to the property conveyed to the Commissioner under this section and without awaiting the final liquidation of such property for the purpose of determining the net amount to be realized therefrom."

SEC. 5. Said Act, as amended, is hereby amended

(1) by striking clause 1 of section 207 (c) and inserting:

"(1) not to exceed $12,500,000 with respect to any one mortgage instrument and such that the aggregate amount of any commitment or commitments issued and outstanding under this section at any time with respect to a project or projects in the same housing market area and involving the same mortgagor (or mortgagors under substantially the same control, as determined by the Commissioner) shall not exceed $12,500,000, or, if the mortgage is executed by a mortgagor coming within the provisions of clause (b) (1) of this section, such dollar limit with respect to any one mortgage instrument and with respect to the aggregate amount of such commitments shall be $50,000,000;";

1

(2) by striking clause 1 of section 213 (b) and inserting:

"(1) not to exceed $12,500,000 with respect to any one mortgage instrument and such that the aggregate amount of any commitment or commitments issued and outstanding under this section at any time with respect to a project or projects in the same housing market area and involving the same mortgagor (or mortgagors under substantially the same control, as determined by the Commissioner) shall not exceed $12,500,000, or, if the mortgage is executed by a mortgagor regulated or supervised under Federal or State laws or by political subdivisions of States or agencies thereof, as to rents, charges, and methods of operation, such dollar limit with respect to any one mortgage instrument and with respect to the aggregate amount of such commitments shall be $25,000,000; and";

(3) by striking clause (i) of section 220 (d) (3) (B) and inserting: "(i) not to exceed $50,000,000 with respect to any one mortgage instrument and such that the aggregate amount of any commitment or commitments issued and outstanding under this section at any time with respect to a project or projects in the same housing market area and involving the same mortgagor (or mortgagors under substantially the same control, as determined by the Commissioner) shall not exceed $50,000,000; and"; and (4) by striking "5,000,000" in sections 213 (c), 221 (d) (3), and 803 (b) (3) and inserting : "$12,500,000 with respect to any one mortgage instrument and such that the aggregate amount of any commitment or commitments issued and outstanding under this section at any time with respect to a project or projects in the same housing market area and involving the same mortgagor (or mortgagors under substantially the same control, as determined by the Commissioner) shall not exceed $12,500,000". SEC. 6. Section 217 of said Act, as amended, is hereby amended by striking "July 1, 1954" and inserting "July 1, 1955", and by striking "$3,500,000,000" and inserting "$4,000,000,000".

SEC. 7. Clause (a) of the second sentence of section 227 of said Act, as amended, is hereby amended by striking "under section 221" and inserting "under section 221 if the mortgage meets the requirements of paragraph (3) of subsection (d) thereof".

SEC. 8. Section 604 (f) of said Act, as amended, is hereby amended by adding the following paragraph at the end thereof:

"Notwithstanding any other provisions of this section, the Commissioner is authorized, with the consent of the mortgagee or mortgagor as the case may be, to effect the settlement of certificates of claim and refunds at any time after the sale or transfer of title to the property conveyed to the Commissioner under this section and without awaiting the final liquidation of such property for the purpose of determining the net amount to be realized therefrom."

SEC. 9. Section 803 (a) of said Act, as amended, is hereby amended by striking "pursuant to a commitment to insure issued on or before such date" and inserting "pursuant to a certification by the Secretary of Defense or his designee made on or before such date and a commitment to insure issued on or before June 30, 1956".

SEC. 10. The second sentence of section 104 of the Defense Housing and Community Facilities and Services Act of 1951, as amended, is hereby amended by striking in clause (a) thereof "designate hereunder" and inserting "designate hereunder or (iii) pursuant to a commitment to insure issued pursuant to the preceding clause (ii)".

SLUM CLEARANCE AND URBAN RENEWAL

SEC. 11. (a) Section 103 (b) of the Housing Act of 1949, as amended, is hereby amended by striking "$100,000,000, which limit shall be increased by further amounts of $100,000,000 on July 1 in each of the years 1950, 1951, 1952, and 1953, respectively: Provided, That (subject to the total authorization of not to exceed $500,000,000)” and inserting "$500,000,000, which limit shall be increased by further amounts of $200,000,000 on July 1 in each of the years 1955 and 1956, respectively: Provided, That".

(b) Section 106 (e) of said Act, as amended, is hereby amended by striking "$35,000,000" and inserting "$70,000,000”.

SEC. 12. The Territorial Enabling Act of 1950 (64 Stat. 344) is hereby amended

(1) by inserting “urban renewal," after "urban redevelopment," in the title;

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