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12 U.S.C. § 1724 to 1730d — Housing for moderate income and displaced families

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1724 to 1730d — Housing for moderate income and displaced families

(a) Purpose

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1724 to 1730d

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Stable record: federal_law:legal_authorities:record_usc_0898ff02092c5f212a4c40f4
Source file: Laws/federal/codes/united-states-code/title-12/section-1724-to-1730d-12-u-s-c-1724-to-1730d-housing-for-moderate-income-and-displaced-familie--80bf29d037.md
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Passage SHA-256: 99d55add247a5b3e22f58f101463da016da2f142bc482cb1b7c752f59b0da38e

Source location: Title 12, Chapter 13, § 1724 to 1730d; chapter-013-national-housing.md

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(a) Purpose

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 165 — Losses

**(a) General rule** There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise. **(b) Amount of deduction** For purposes of subsection (a), the basis for determining the amount of the deduction for any loss shall be the adjusted basis provided in section 1011 for determining the loss from the sale or other disposition of property. **(c) Limitation on losses of individuals** In the case of an individual, the deduction under subsection (a) shall be limited to— (1) losses incurred in a trade or business; (2) losses incurred in any transaction entered into for profit, though not connected with a trade or business; and (3) except as provided in subsection (h), losses of property not connected with a trade or business or a transaction entered into for profit, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft. **(d) Wagering losses** (1) **In general** — For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year— (A) shall be equal to 90 percent of the amount of such losses during such taxable year, and (B) shall be allowed only to the extent of the gains from such transactions during such taxable year. (2) **Special rule** — For purposes of paragraph (1), the term “losses from wagering transactions” includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction. **(e) Theft losses** For purposes of subsection (a), any loss arising from theft shall be treated as sustained during the taxable year in which the taxpayer discovers such loss. **(f) Capital losses** Losses from sales or exchanges of capital assets shall be allowed only to the extent allowed in sections

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 165

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1437f — Repealed. Pub. L. 93–383, title II, § 204, Aug. 22, 1974, 88 Stat. 668

### Statutory Notes Section, act Aug. 2, 1954, ch. 649, title VIII, § 815, 68 Stat. 647, required submission of specifications by applicants prior to award of any contract for construction of a project and submission of data with respect to acquisition of land prior to authorization to purchase such land.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 11319 — Termination

The Council shall cease to exist, and the requirements of this subchapter shall terminate, on October 1, 2028 11 So in original. Probably should be followed by a period.

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 11319

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 5121 — Congressional findings and declarations

**(a)** The Congress hereby finds and declares that— (1) because disasters often cause loss of life, human suffering, loss of income, and property loss and damage; and (2) because disasters often disrupt the normal functioning of governments and communities, and adversely affect individuals and families with great severity; special measures, designed to assist the efforts of the affected States in expediting the rendering of aid, assistance, and emergency services, and the reconstruction and rehabilitation of devastated areas, are necessary. **(b)** It is the intent of the Congress, by this chapter, to provide an orderly and continuing means of assistance by the Federal Government to State and local governments in carrying out their responsibilities to alleviate the suffering and damage which result from such disasters by— (1) revising and broadening the scope of existing disaster relief programs; (2) encouraging the development of comprehensive disaster preparedness and assistance plans, programs, capabilities, and organizations by the States and by local governments; (3) achieving greater coordination and responsiveness of disaster preparedness and relief programs; (4) encouraging individuals, States, and local governments to protect themselves by obtaining insurance coverage to supplement or replace governmental assistance; (5) encouraging hazard mitigation measures to reduce losses from disasters, including development of land use and construction regulations; (6) providing Federal assistance programs for both public and private losses sustained in disasters; and (7) identifying and improving the climate and natural hazard resilience of vulnerable communities.

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 5121

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1715 — Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure

The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1710 — Repealed. Aug. 2, 1954, ch. 649, title VIII, § 813, 68 Stat. 647

### Statutory Notes Section, acts Apr. 20, 1950, ch. 94, title V, § 504, 64 Stat. 81; Sept. 1, 1951, ch. 378, title VI, § 613(a), 65 Stat. 316; June 30, 1953, ch. 170, § 23, 67 Stat. 127, related to control of charges and fees, imposed by lenders upon builders and purchasers in connection with home loans, by the Federal Housing Commissioner and the Administrator of Veterans’ Affairs.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1710

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1485 — Housing and related facilities for elderly persons and families or other persons and families of low income

**(a) Direct loans; authorization; terms and conditions; revolving fund; appropriation** The Secretary is authorized to make loans to private nonprofit corporations and consumer cooperatives and Indian tribes to provide rental or cooperative housing and related facilities for elderly or handicapped persons or families of low or moderate income or other persons and families of low income in rural areas, in accordance with terms and conditions substantially identical with those specified in [section 1472 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1472&num=0&edition=prelim); except that— (1) no such loan shall exceed the development cost or the value of the security, whichever is less; (2) such a loan may be made for a period of up to 30 years from the making of the loan; and (3) such a loan, when made to a consumer cooperative for cooperative housing purposes, may, notwithstanding any other provision of law, be made upon the condition that any person who is admitted as an eligible member and tenant of the cooperative may not subsequently be deprived of his membership or tenancy by reason of his no longer meeting the income eligibility requirements established by the Secretary. There is authorized to be appropriated not to exceed $50,000,000, which shall constitute a revolving fund to be used by the Secretary in carrying out this subsection. **(b) Insurance of loans; authorization; terms and conditions; utilization of Agricultural Credit Insurance Fund** The Secretary is authorized to insure and make commitments to insure loans made to any individual, corporation, association, trust, Indian tribe, or partnership to provide rental or cooperative housing and related facilities for elderly or handicapped persons or families

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1485

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 5316 — Transition provisions

**(a) Prohibition on new grants or loans after January 1, 1975; exceptions** Except with respect to projects and programs for which funds have been previously committed, no new grants or loans shall be made after January 1, 1975, under (1) title I of the Demonstration Cities and Metropolitan Development Act of 1966 [[42 U.S.C. 3301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3301&num=0&edition=prelim) et seq.], (2) title I of the Housing Act of 1949 [[42 U.S.C. 1450](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1450&num=0&edition=prelim) et seq.] (3) section 702 or section 703 of the Housing and Urban Development Act of 1965 [[42 U.S.C. 3102](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3102&num=0&edition=prelim) or 3103], (4) title II of the Housing Amendments of 1955 [[42 U.S.C. 1491](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1491&num=0&edition=prelim) et seq.], or (5) title VII of the Housing Act of 1961 [[42 U.S.C. 1500](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1500&num=0&edition=prelim) et seq.]. **(b) Final date in fiscal year for submission of application for grant; establishment by Secretary** In the case of funds available for any fiscal year, the Secretary shall not consider any statement under [section 5304(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section5304/a&num=0&edition=prelim), unless such statement is submitted on or prior to such date as the Secretary shall establish as the final date for submission of statements for that year.

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 5316

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1713 — Right to redeem property on which United States has lien

The right to redeem provided for by [section 2410(c) of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section2410/c&num=0&edition=prelim), shall not arise in any case in which the subordinate lien or interest of the United States derives from the issuance of insurance under the National Housing Act, as amended [[12 U.S.C. 1701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701&num=0&edition=prelim) et seq.].

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1713

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1720 — Statistical and economic surveys

The Secretary shall cause to be made in connection with the insurance programs such statistical surveys and legal and economic studies as he shall deem useful to guide the development of housing and the creation of a sound mortgage market in the United States, and shall publish from time to time the results of such surveys and studies. Expenses of such studies and surveys, and expenses of publication and distribution of the results of such studies and surveys, shall be charged as a general expense of such insurance fund or funds, as the Secretary shall determine.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1720

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