42 U.S.C. § 1591a: Construction by private…

Summary

When the President names an area a critical defense housing area, the Secretary of Housing and Urban Development must publish in the Federal Register how many permanent homes are needed, with basic details on their types, rents or sale prices, and general locations. Rules about residential credit under the Defense Production Act will be loosened to help private builders. For homes sold at $12,000 or less or rented at $85 or less per month, those credit limits are suspended for the number and kinds the President says are needed. For other housing, the credit rules are relaxed as the President decides. Mortgage insurance under Title II will be offered to get the needed housing built. The federal government will only build permanent housing if, after at least 90 days from the mortgage insurance announcement, private builders or eligible lenders have not filed real applications meeting the announced needs and seeking the credit relief or insurance.

Title 42, §1591a

The Public Health and Welfare, Source: USLM XML via OLRC

In order to assure that private enterprise shall be afforded full opportunity to provide the defense housing needed wherever possible, in any area which the President, pursuant to the authority contained in section 1591 of this title, has declared to be a critical defense housing area—

(a)Publication of number of units needed

first, the number of permanent dwelling units (including information as to types, rentals, and general locations) needed for defense workers and military personnel in such critical defense housing area shall be publicly announced and printed in the Federal Register by the Secretary of Housing and Urban Development;

(b)Suspension of credit restrictions

second, residential credit restrictions under the Defense Production Act of 1950, as amended [50 U.S.C. 4501 et seq.], (1) as to housing to be sold at $12,000 or less per unit or to be rented at $85 or less per unit per month, shall be suspended with respect to the number and types of housing units at the sales prices or rentals which the President determines to be needed in such area for defense workers or military personnel, and (2) as to all other housing, shall be relaxed in such manner and to such extent as the President determines to be necessary and appropriate to obtain the production of such housing needed in such area for defense workers or military personnel;

(c)Mortgage insurance

third, the mortgage insurance aids provided under title II of this Act shall be made available to obtain the production of housing needed in such area for defense workers or military personnel; and

(d)Construction by Government as conditional

fourth, no permanent housing shall be constructed by the Federal Government under the provisions of subchapter IX of this chapter except to the extent that private builders or eligible mortgagees have not, within a period of not less than ninety days (as the Secretary of Housing and Urban Development shall specify) following public announcement of the availability of such mortgage insurance aids under title II of this Act, indicated through bona fide applications (which meet the requirements as to types, rentals, or sales prices, and general locations) for exceptions from such residential credit restrictions or for mortgage insurance or guaranty that they will provide the housing determined to be needed in such area for defense workers and military personnel and publicly announced as provided by subsection (a) of this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Defense Production Act of 1950, referred to in subsec. (b), is act Sept. 8, 1950, ch. 932, 64 Stat. 798, which is classified to chapter 55 (§ 4501 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Tables. This Act, referred to in subsecs. (c) and (d), means act Sept. 1, 1951, ch. 378, 65 Stat. 293, known as the Defense Housing and Community Facilities and Services Act of 1951. Title II of this Act enacted subchapter X (§ 1750 et seq.) of chapter 13 of Title 12, Banks and Banking, and amended section 371, 1430, 1702, 1706, 1715c, 1715f, 1716, and 1743 of Title 12. For complete classification of this Act to the Code, see

Short Title

of 1951 Amendment note set out under section 1501 of this title and Tables.

Statutory Notes and Related Subsidiaries

Transfer of Functions

For

Transfer of Functions

to Secretary of Housing and Urban Development, see note set out under section 1581 of this title.

§1591a Construction by Private Enterprise

Summary

Title 42, §1591a

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

Statutory Notes and Related Subsidiaries

Transfer of Functions

Transfer of Functions

Citations & Metadata