Pub. L. 83-560, tit. VIII, sec. 804

Sec. 804. Section 108 of the Reconstruction Finance Corporation Liquidation Act (67 Stat. 230) is amended as follows: (1) Strikeout from subsection (a) thereof the words “the President, through such officer or agency of the Government (other than the Reconstruction Finance Corporation) as he may designate,” and insert in lieu thereof the words “the Housing and Home Finance Administrator”. (2) Strike out all of subsection (b) and insert in lieu thereof the following: “(b) For the purposes of this section, notwithstanding any other provision of law, the Housing and Home Finance Administrator is authorized to obtain from a revolving fund to be established in the Treasury of the United States not to exceed a total of $50,000,000 outstanding at any one time. For this purpose there is hereby authorized to be appropriated to such revolving fund in the Treasury the amount of $50,000,000. Advances from the revolving fund shall be made to the Housing and Home Finance Administrator upon his request, and such advances together with receipts under this section shall be available for all necessary expenses, including administrative expenses, under this section. The Housing and Home Finance Admin- 68 Stat. 644 istrator shall pay into the Treasury as miscellaneous receipts, at the close of each fiscal year, interest on the amount of advances outstanding, at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding interest-bearing marketable public debt obligations of the United States of comparable maturities. As the Housing and Home Finance Administrator repays principal sums advanced from the revolving fund pursuant to this section, such repayments shall be made to the revolving fund.” (3) Strike out from subsection (c) thereof the words “officer or agency designated by the President” and insert in lieu thereof the words “Housing and Home Finance Administrator”. (4) Strike out from subsection (d) thereof “1955” and insert in lieu thereof “1956”.