Volume 67 · 136
Public Law 83–101
To amend the National Housing Act, as amended, and the Servicemen’s Readjustment Act of 1944, as amended, with respect to maximum interest rates, the veterans’ direct home-loan program, and for other purposes.
Approved July 1, 1953
Statutory text
AN ACT
To amend the National Housing Act, as amended, and the Servicemen’s Readjustment Act of 1944, as amended, with respect to maximum interest rates, the veterans’ direct home-loan program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That title III of the Servicemen’s Readjustment Act of 1944, as amended, is hereby amended as follows:
By striking out “4 per centum per annum” from clause (C)
Interest rates.
of section 512 (a) and inserting in lieu thereof “the rate authorized
for guaranteed home loans,”;
By striking out “of 4 per centum per annum” from section 512 (b) and inserting “to be determined by the Administrator of Veterans Affairs, not to exceed the rate authorized for guaranteed home loans, and in no event to exceed 4½ per centum per annum”;
By striking out “June 30, 1953” from clause (C) of section
Time extension.
512 (b) and inserting “June 30, 1954” in lieu thereof;
By striking out “June 30, 1953” from the first sentence of
section 513 (a) and inserting “June 30, 1954” in lieu thereof;
By striking out “June 30, 1954” from the third sentence of section 513 (c) and inserting “June 30, 1955” in lieu thereof; and
By striking out “June 30, 1953” from the first sentence of
section 513 (d) and inserting “June 30, 1954” in lieu thereof.
Sec. 2.
The last proviso in section 500 (b), title III, of the Servicemen’s
Rate regulation.
Readjustment Act, as amended, is hereby amended to read as follows: “And provided further, That the Administrator, with the approval of the Secretary of the Treasury, may prescribe by regulation from time to time such rate of interest, not in excess of 4½ per centum per annum, as he may find the loan market demands.”
Approved July 1, 1953.