increase in special assistance authority

increase in special assistance authority Sec. 801. (a) Section 305(c) of the National Housing Act is amended by inserting before the period at the end thereof the following: “, which limit, shall lie increased by $100,000,000 on the date of the enactment of the. Housing and Urban Development Act of 1965, by $450,000,000 on July 1, 1966, by $550,000,000 on July 1, 1967, and by $525,000,000 on July 1, 1968”. (b) Section 305(f) of such Act is amended by inserting before the period at the end thereof the following: “: Provided further, That any portion of the total amount of authority set forth in the first proviso of this subsection, which (1) is not required under the second proviso of this subsection to be kept available for purchases and commitments with respect to mortgages insured under section 809, and (2), on the date of enactment of the Housing and Urban Development Act of 1965 and on each July 1 thereafter, would otherwise be available for making new purchases and commitments pursuant to this subsection, shall be transferred to and merged with the authority granted by subsection (a) and added to the amount of such authority which is available, as of the date of the transfer, for purchases and commitments under subsection (c); and the total amount of authority as set forth in the first proviso of this subsection shall progressively be reduced by the amount of each such transfer”.