Joint resolution to extend the authority of the Secretary of Housing and Urban Development with respect to interest rates on insured mortgages, to extend and modify certain provisions of the National Flood Insurance Act of 1968, and for other purposes
PL 92-213 (S.J.Res.176), enacted 12/22/1971

85 STAT. ] 
PUBLIC LAW 92-213-DEC. 22, 1971 
775 
Public Law 92-213 
J O I N T R E S O L U T I O N 
Decer^^er 
22. 1971 
To extend the authority of the Secretary of Housing and Urban Development [s. j . Res. i76] 
with respect to interest rates on insured mortgages, to extend and modify 
certain provisions of the National Flood Insurance Act of 1968, and for other 
purposes. 
Resolved by the Senate and House of Representatives 
of the United 
States of America In Congress assembled, 
certauf 
laws 
extension. 
84 Stat. 461. 
42 u s e 4012. 
rL?:XIBLE IXTEREST RATE AUTHORITY 
SECTION 1. Section 3(a) of the Act entitled "An Act to amend chap-
ter 37 of title 38 of the United States Code with respect to the veterans' 
home loan program, to amend the National Housing Act with respect 
to interest rates on insured mortgages, and for other purposes", 
approA'ed May 7, 1968, as amended (12 L'i'.S.C. 1709-1), is amended by 
striking out '"January 1, 1972" and inserting in lien thereof "June 30, 
1972". 
A M E X D M E X T S 
T O 
T H E 
F E D E R A L 
F L O O D 
I X S U R A X C E 
A C T 
O F 
19 
68 
SEC. 2. (a) Section 1336(a) of the Housing and Urban Develop-
ment Act of 1968 is amended by striking out "December 31, 1971" and 
^^ J*!^* 396^' 
inserting in lieu thereof "December 31,1973". 
(b) The provisions of section 1314(a)(2) of such Act shall not 
§2 stat. 579. 
apply Avith respect to any loss, destruction, or damage of real or per-
sonal property that occurs on or before December 31, 1973. 
(c)(1) Section 1305(a) of such Act is amended by striking out 
"and" after "families" and inserting in lieu thereof ", church prop-
erties, and". 
(2) Section 1306(b)(1)(C) of such Act is amended by inserting 
42 use 4013. 
"church properties, and" immediately before "any other properties 
which may become". 
'I'EMPORARY WAIVER OF CERTAIX' LIMITATIOX'S APPLICABLE TO T H E PUR-
CHASE 
OF 
MORTGAGES 
BY 
T H E 
GOVERXMENT 
NATIONAL 
MORTGAGE 
ASSOCIATION'" 
SEC. 3. When the Secretary of Housing and Urban Development 
determines that such action is necessary to avoid excessive discounts 
on federally insured or guaranteed mortgages, the Government 
National Mortgage Association may, for a period of 6 months after the 
date of approval of this joint resolution, issue commitments to pur-
chase mortgages with original principal obligations not more than 
50 per centum in excess of the limitations imposed by clause (3) of the 
proviso to the first sentence of section 302(b)(1) of the National 
Ilousing Act, and it may purchase the mortgages so committed to be ^^ ^r^sss^^' 
purchased. 
84 stat! 450I 
12 u s e 1717. 
EXTEXSIOX' OF DATES APPLICABLE TO CERTAIX PROVISIONS OF LAW RELATING 
TO T H E TAXATION OF NATIONAL BANKS 
SEC. 4. (a) The Act entitled "An Act to clarify the liability of 
national banks for certain taxes", approved December 24, 1969 (83 
Stat. 434), is amended by striking out "1972" in sections 2(b) and ^^^l^^^^ ^^^ 
3(a) and inserting in lieu thereof "1973". 
(b) The Board of Governors of the Federal Reserve System shall 
study. 
make a study of the probable impact on the revenues of State and 
local governments of the extension under subsection (a) of the termi-
nation date of interim provisions regarding intangible personal prop-
776 
PUBLIC LAW 92-213-DEC. 22, 1971 
[85 STAT. 
Report to Con-
gress* 
erty taxes of State and local governments on national banks. The 
Board shall report the results of its study to the Congress not later 
than six months after the date of approval of this joint resolution. 
75 Stat. 483. 
12 u s e 1727. 
REQUIREMENT AFFECTING THE PREPAYMENT OF PREMIUMS BY INSURED 
INSTITUTIONS TO THE FEDERAL SAVINGS AND LOAN INSURANCE CORPO-
RATION 
SEC. 5. Section 404(g) of the National Housing Act is amended by 
striking out " 1 % " and inserting in lieu thereof " 1 % " . 
WAIVER o r CERTAIN REQUIREMENTS APPLICABLE TO GRANTS FOR BASIC 
WATER AND SEWER FACILITIES 
82 Stat. 534; 
84 Stat. 886. 
42 u s e 3102. 
SEC. 6. Section 
702(c) of the Housing and Urban Development 
Act of 1965 is amended by striking out "October 1, 1971" and insert-
ing in lieu thereof "June 30,1972". 
E X P A N S I O N 
O F 
S U P P L E M E N T A L 
G R A N T ASSISTANCE UNDER 
NEW 
COMMUNITY ASSISTANCE PROGRAM 
84 Stat. 1799. 
42 u s e 4519. 
SEC. 7. The first sentence of section 718(a) of the Housing and 
Urban Development Act of 1970 is amended t3y striking out "State 
or local public body or agency" and inserting in lieu thereof "State, 
local public body or agency, or other entity". 
INCREASE OF AUTHORIZATIONS FOR COMPREHENSIVE PLANNING 
GRANTS 
AND OPEN-SPACE LAND GRANTS 
84 Stat. 1780. 
40 u s e 461. 
84 Stat. 1783. 
42 u s e ISOOd. 
SEC. 8. (a) The fifth sentence of section 701(b) of the Housing Apt 
of 1954 is amended by striking out "$420,000,000" and inserting in 
lieu thereof "$470,000,000". 
(b) Section 708 of the Housing Act of 1961 is amended by striking 
out "$560,000,000" and inserting in lieu thereof "$660,000,000". 
PUBLIC HOUSING RENT REDUCTIONS 
73 Stat. 680; 
83 Stat. 389; 
84 Stat. 1778. 
42 u s e 1402. 
SEC. 9. Section 2(1) of the United States Housing Act of 1937 is 
amended by adding at the end thereof a new paragraph as follows: 
"Notwithstanding any other provision of Federal law or regula-
tions thereunder, a public agency shall not reduce welfare assistance 
payments to any tenant or group of tenants in low-rent housing as a 
result of any reduction in rent resulting from the application of the 
rent limitation set forth in this paragraph (1) and required by such 
limitation." 
81 Stat. 270. 
15 u s e 683. 
SBA GUARANTEE OF DEBENTURES ISSUED BY SMALL BUSINESS INVESTMENT 
COMPANIES 
SEC. 10. Section 303(b) of the Small Business Investment Act of 
1958 is amended— 
(1) by inserting the following in lieu of the first sentence 
thereof: "To encourage the formation and growth of small busi-
ness investment companies the Administration is authorized (but 
only to the extent that the necessary funds are not available to 
said company from private sources on reasonable terms) when 
authorized in appropriation Acts, to purchase, or to guarantee 
the timely payment of all principal and interest as scheduled on, 
85 STAT. ] 
PUBLIC LAW 92-215-DEC. 22, 1971 
777 
debentures issued by such companies. Such purchases or guaran-
tees may be made by the Administration on such terms and condi-
tions as it deems appropriate, pursuant to regulations issued by 
the Administration, The full faith and credit of the United 
States is pledged to the payment of all amounts which may be 
required to be paid under any guarantee under this subsection."; 
(2) by inserting "or guaranteed" following "purchased" each 
time it appears in paragraphs (1) and (2) thereof and in the 
second sentence thereof; 
(3) by inserting "or guarantees" following "purchases" in the 
last sentence of paragraph (2) thereof; and 
(4) by inserting "or guarantee" following "purchase" in para-
graph (3) thereof. 
Approved December 22, 1971. 
Public Law 92-214 
AN ACT 
To amend the Migratory Bird Hunting Stamp Act to authorize the Secretary of 
the Interior to establish the fee for stamps issued thereunder, and for other 
purposes. 
December 22, 1971 
[H. R,701] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of A?nenca in Congress assembled, That the second sen-
tence of section 2 of the Migratory Bird Hunting Stamp Act (48 Stat. 
451), as amended (16 U.S.C. 718b), is amended to read as follows: 
"For each such stamp sold under the provisions of this section there 
shall be collected by the Postal Service a sum of not less than $3 and 
not more than $5 as determined by the Secretary of the Interior after 
taking into consideration, among other matters, the increased cost of 
lands needed for the conservation of migratory birds.". 
SEC. 2. Sections 2 and 4 of the Migratory Bird Hunting Stamp Act 
(16 U.S.C. 718b, 7l8d) are each amended by striking out "Post Office 
Department" and "Postmaster General" each place they appear 
therein and inserting in lieu thereof "Postal Service". 
SEC. 3. Section 3(a) of the Act of July 30, 1956 (70 Stat. 722; 16 
U.S.C. 718b-l), is amended by striking out "Postmaster General" each 
place it appears therein and inserting in lieu thereof "Postal Service". 
Approved December 22, 1971. 
Migratory bird 
hunting stamp. 
F e e s . 
7 2 Stat. 486. 
Public Law 92-215 
AN ACT 
To authorize an additional Assistant Secretai*y of Defense. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled. That section 136(a) 
of title 10, United States Code, is amended by striking out "eight" and 
inserting in lieu thereof "nine". 
SEC. 2. Section 5315 (13) of title 5, United States Code, is amended to 
read as follows: 
"(13) Assistant Secretaries of Defense (9).". 
Approved December 22, 1971. 
December 
[H, R. 
Defense 
ment. 
22,1971 
8856] 
Depart-
Additional 
assistant 
tary. 
83 Stat. 
secre-
207.