Volume 69
Public Law 84–349
To amend the Act of October 14, 1940, to authorize the sale of personal property held in connection with housing under such Act.
Approved August 11, 1955
Statutory text
AN ACT
To amend the Act of October 14, 1940, to authorize the sale of personal property held in connection with housing under such Act.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That section 608 of the Act entitled “An Act to expedite the provision of housing in connection with national defense, and for other purposes”, approved October 14, 1940, as amended, is amended by inserting “(a)” immediately after “Sec. 608.” and by adding at the end thereof the following new subsection:
“(b) Notwithstanding any other provision of law, any personal property held under this Act, and not sold with a project or building, may be sold at fair value, as determined by the Administrator, to any agency organized for slum clearance or to provide subsidized housing for persons of low income. Any sale of personal property under this subsection shall be made on a cash basis, payable at the time of settlement.”
Approved August 11, 1955.