HOUSING AND HOME FINANCE AGENCY

HOUSING AND HOME FINANCE AGENCY Federal National Mortgage Association: Not to exceed $3,238,000 shall be available for administrative expenses, which shall be on an accrual basis, and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, fees for servicing mortgages, expenses (including services performed on a force account, contract, or fee basis, but not including other personal services) in connection with the acquisition, protection, operation, maintenance, improvement, or disposition of real or personal property belonging to said Association or in which it has an interest, cost of salaries, wages, travel, and other expenses of persons employed outside of the continental United States, expenses of services performed on a contract or fee basis in68 Stat. 295 connection with the performance of legal services, and all administrative expenses reimbursable from other Government agencies; and said Association may utilize and may make payment for services and facilities of the Federal Reserve banks and other agencies of the Government: Provided, That the distribution of administrative expenses to the accounts of the Association shall be made in accordance with generally recognized accounting principles and practices: Provided further, That not to exceed $87,750 shall be available for expenses of travel: Provided further, That administrative expenses not under limitation for the purposes set forth in the budget schedules for the fiscal year 1955 shall not exceed $150,000. Office of the Administrator, housing loans to educational institutions: Not to exceed $375,000 shall be available for all administrative expenses, which shall be on an accrual basis, of carrying out the functions of the Office of the Administrator under the program of housing loans to educational institutions (title IV of the Housing Act of 1950, 12 U. S. C. 1749–1749d), but this amount shall be exclusive of payment for services and facilities of the Federal Reserve banks or any member thereof, the Federal home-loan banks, and any insured bank within the meaning of the Act creating the Federal Deposit Insurance Corporation (Act of August 23, 1935, as amended, 12 U. S. C. 264) which has been designated by the Secretary of the Treasury as a depository of public money of the United States: Provided, That not to exceed $19,000 shall be available for expenses of travel. Office of the Administrator, revolving fund (liquidating programs): There is established as of June 30, 1954, a revolving fund, and the Administrator is authorized to credit said fund with all moneys hereafter obtained or now held by him or by any constituent agency of the Housing and Home Finance Agency or any other official thereof, and to account under said fund for all assets and liabilities, in connection with (1) community facilities provided or assisted under title II of the Lanham Act, as amended (42 U. S. C. 1531–1534), or under title III of the Defense Housing and Community Facilities and Services Act of 1951, as amended (42 U. S. C. 1592–1592n); (2) loans or advances made pursuant to title V of the War Mobilization and Reconversion Act of 1944 (58 Stat. 791), or the Act of October 13, 1949 (40 U. S. C. 451–458); (3) functions transferred under Reorganization Plan No. 23 of 1950 (5 U. S. C. 133z–15, note), or authorized under sections 102, 102a, 102b, and 102c of the Housing Act of 1948, as amended (12 U. S. C. 1701g–1701g–3); (4) notes or other obligations purchased pursuant to the Alaska Housing Act, as amended (48 U. S. C. 484 (a)); (5) subsistence homesteads and greentowns (Acts of June 29, 1936, 49 Stat. 2035, and May 19, 1949, 63 Stat. 68): (6) public war housing under title I of the Lanham Act, as amended (42 U. S. C. 1521–1524), and defense housing under title III of the Defense Housing and Community Facilities and Services Act of 1951, as amended (42 U. S. C. 1592–1592n); and (7) veterans’ reuse housing under title V of the Lanham Act, as amended (42 U. S. C. 1571–1575): Provided, That said fund shall he available for all necessary expenses (including administrative expenses) in connection with the liquidation of the programs carried out pursuant to the foregoing provisions of law, including operation, maintenance, improvement, or disposition of facilities, and for disbursements pursuant to outstanding commitments against moneys herein authorized to be credited to said fund, repayment of obligations to the Treasury, and refinancing and refunding operations on existing loans: Provided further, That any amount in said fund which is determined to be in excess of requirements for the purposes hereof shall be declared and paid as liquidating dividends to the Treasury not less often than annually: Provided further, That68 Stat. 296 during the current fiscal year not to exceed $3,940,000 shall be available for administrative expenses (including not to exceed $265,000 for travel) for the foregoing purposes, but this amount shall be exclusive of costs of services performed on a contract or fee basis in connection with termination of contracts and legal services on a contract or fee basis and of payment for services and facilities of the Federal Reserve banks or any member thereof, any servicer approved by the Federal National Mortgage Association, the Federal home-loan banks, and any insured bank within the meaning of the Act of August 23, 1935, as amended, creating the Federal Deposit Insurance Corporation (12 U. S. C. 264) which has been designated by the Secretary of the Treasury as a depository of public money of the United States: Provided further, That after the effective date of this Act no additional notes or obligations shall be purchased from funds appropriated pursuant to the Alaska Housing Act, as amended (48 U. S. C. 484 (d)), except for the furtherance or refinancing of an existing loan: Provided further, That except for extensions, or refinancing, of existing obligations the authority to issue obligations to the Secretary of the Treasury under section 1 (4) of Reorganization Plan No. 23 of 1950 (5 U. S. C. 1332–15, note), shall terminate on June 30, 1954: Provided further, That all expenses, not otherwise specifically limited in this Act, in connection with the programs administered pursuant to the foregoing provisions of law shall not exceed $20,000,000. Home Loan Bank Board: Not to exceed a total of $775,000 shall be available for administrative expenses of the Home Loan Bank Board, and shall be derived from funds available to the Home Loan Bank Board, including those in the Home Loan Bank Board revolving fund and receipts of the Federal Home Loan Bank Administration, the Federal Home Loan Bank Board, or the Home Loan Bank Board for the current fiscal year and prior fiscal years, and the Board may utilize and may make payment for services and facilities of the Federal home-loan banks, the Federal Reserve banks, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government: Provided, That all necessary expenses in connection with the conservatorship of institutions insured by the Federal Savings and Loan Insurance Corporation and all necessary expenses (including services performed on a contract or fee basis, but not including other personal services) in connection with the handling, including the purchase, sale, and exchange, of securities on behalf of Federal home-loan banks, and the sale, issuance, and retirement of, or payment of interest on, debentures or bonds, under the Federal Home Loan Bank Act, as amended, shall be considered as nonadministrative expenses for the purposes hereof: Provided further, That not to exceed $35,000 shall be available for expenses of travel: Provided further, That notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of the Board shall be incurred, allowed, and paid in accordance with the provisions of the Federal Home Loan Bank Act of July 22, 1932, as amended (12 U. S. C. 1421–1449): Provided further, That the nonadministrative expenses for the examination of Federal and State chartered institutions shall not exceed $2,395,000. Federal Savings and Loan Insurance Corporation: Not to exceed $455,000 shall be available for administrative expenses, which shall be on an accrual basis and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, expenses in connection with liquidation of insured institutions, liquidation or handling of assets of or derived from insured institutions, payment of insurance, and action for or toward the avoidance, termination, or minimizing of losses in the case of insured institutions, legal fees and expenses,68 Stat. 297 and payments for administrative expenses of the Home Loan Bank Board determined by said Board to be properly allocable to said Corporation, and said Corporation may utilize and may make payment for services and facilities of the Federal home-loan banks, the Federal Reserve banks, the Home Loan Bank Board, and other agencies of the Government: Provided, That not to exceed $6,500 shall be available for expenses of travel: Provided further, That notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of said Corporation shall be incurred, allowed and paid in accordance with title IV of the Act of June 27, 1934, as amended (12 U. S. C. 1724–1730). Federal Housing Administration: In addition to the amounts available by or pursuant to law (which shall be transferred to this authorization) for the administrative expenses in carrying out duties imposed by or pursuant to law, not to exceed $5,150,000 of the various funds of the Federal Housing Administration shall be available for expenditure, in accordance with the National Housing Act, as amended (12 U. S. C. 1701): Provided, That, except as herein otherwise provided, all expenses and obligations of said Administration shall be incurred, allowed, and paid in accordance with the provisions of said Act: Provided further, That not to exceed $175,000 shall be available for expenses of travel: Provided further, That funds available for expenditure shall be available for contract actuarial services (not to exceed $1,500): and purchase of periodicals and newspapers (not to exceed $500): Provided further, That expenditures for nonadministrative expenses classified by section 2 of Public Law 387, approved October 25, 1949, shall not exceed $25,000,000. Public Housing Administration: Of the amounts available by law for the administrative expenses of the Public Housing administration in carrying out duties imposed by law including funds appropriated by title I of this Act not to exceed $6,950,000, shall be available for such expenses, including not to exceed $500,000 for expenses of travel; and expenses of attendance at meetings of organizations concerned with the work of the Administration: Provided, That necessary expenses of providing representatives of the Administration at the sites of non-Federal projects in connection with the construction of such non-Federal projects by public housing agencies with the aid of the Administration, shall be compensated by such agencies by the payment of fixed fees which in the aggregate in relation to the development costs of such projects will cover the costs of rendering such services, and expenditures by the Administration for such purpose shall be considered nonadministrative expenses, and funds received from such payments may be used only for the payment of necessary expenses of providing representatives of the administration at the sites of non-Federal projects: Provided further, That all expenses of the Public Housing Administration not specifically limited in this Act, in carrying out its duties imposed by law, shall not exceed $1,530,000: Provided further, That during the fiscal year 1955 the Commissioner shall continue to make every effort to refund all local bonds held by the Public Housing Administration under the United States Housing Act of 1937, as amended.