
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 40USC424]

 
             TITLE 40--PUBLIC BUILDINGS, PROPERTY, AND WORKS
 
       CHAPTER 8--EMERGENCY PUBLIC WORKS AND CONSTRUCTION PROJECTS
 
       SUBCHAPTER II--SLUM CLEARANCE AND LOW COST HOUSING PROJECTS
 
Sec. 424. Rentals; families acceptable as tenants

    (a) In the administration of any low-cost housing or slum-clearance 
project described in section 421 of this title, the Administrator of 
General Services shall fix the rentals at an amount at least sufficient 
to pay (1) all necessary and proper administrative expenses of the 
project; (2) such sums as will suffice to repay, within a period not 
exceeding sixty years, at least 55 per centum of the initial cost of the 
project, together with interest at such rate as he deems advisable.
    (b) Dwelling accommodations in such low-cost housing or slum-
clearance projects shall be available only to families who lack 
sufficient income, without the benefit of financial assistance, to 
enable them to live in decent, safe, and sanitary dwellings and under 
other than overcrowded housing conditions: Provided, That no family 
shall be accepted as a tenant in any such project whose aggregate income 
exceeds five times the rental of the quarters to be furnished such 
family. The term ``rental'' as used in this subsection includes the 
average cost (as determined by the Administrator of General Services) of 
heat, light, water, and cooking, where such services are not supplied by 
the lessor and included in the rent.

(June 29, 1936, ch. 860, Sec. 4, 49 Stat. 2026; 1939 Reorg. Plan No. I, 
Secs. 301, 305, eff. July 1, 1939, 4 F.R. 2729, 53 Stat. 1426, 1428; Ex. 
Ord. No. 9357, eff. June 30, 1943, 8 F.R. 9041; June 30, 1949, ch. 288, 
title I, Sec. 103(a), 63 Stat. 380.)

                          Transfer of Functions

    Functions of Federal Works Agency and of all agencies thereof, 
together with functions of Federal Works Administrator transferred to 
Administrator of General Services by section 103(a) of act June 30, 
1949, which is classified to section 753(a) of this title. Federal Works 
Agency and office of Federal Works Administrator abolished by section 
103(b) of act June 30, 1949.
    Federal Emergency Administration of Public Works consolidated into 
Federal Works Agency to be administered as Public Works Administration 
by Reorg. Plan No. I of 1939. Functions of Public Works Administration 
and Commissioner of Public Works Agency transferred to Federal Works 
Administrator by Ex. Ord. No. 9357.

                 Effective Date of Transfer of Functions

    Transfer of functions by act June 30, 1949, effective July 1, 1949, 
see section 605 of act June 30, 1949, set out as an Effective Date note 
under section 471 of this title.
