low-rent housing authorization

low-rent housing authorization Sec. 505. (a) Section 10(i) of the United States Housing Act of 1937 is amended by striking out all that precedes the third proviso and inserting in lieu thereof the following: “(i) Notwithstanding any other provision of law, the Authority may enter into new contracts for loans and annual contributions for 73 Stat. 681 (1) not more than such number of dwelling units as does not exceed the number of units which were covered by annual contribution contracts on the date of enactment of the Housing Act of 1959 and are not built, the contracts therefor being canceled; and (2) additional dwelling units which, together with the dwelling units covered by new contracts entered into under clause (1), do not exceed thirty-seven thou-sand units: Provided, That the Authority may enter into only such new contracts for preliminary loans as are consistent with the number of dwelling units for which contracts for annual contributions may be entered into hereunder”. (b) The last proviso under the heading “Public Housing Administration, Annual Contributions” in title I of the First Independent Offices Appropriation Act, 1954 (67 Stat. 307), is repealed.