§ 1701z. — New technologies in the development of housing for lower income families.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1701z-9]
TITLE 12--BANKS AND BANKING
CHAPTER 13--NATIONAL HOUSING
Sec. 1701z-9. Expansion of home ownership opportunities in urban
areas
In carrying out activities under section 1701z-1 of this title, the
Secretary is authorized to conduct demonstrations to determine the
feasibility of expanding homeownership opportunities in urban areas and
encouraging the creation and maintenance of decent, safe, and sanitary
housing in such areas by utilizing techniques including, but not limited
to, the conversion of multifamily housing properties to condominium or
cooperative ownership by individuals and families.
(Pub. L. 91-609, title V, Sec. 510, as added Pub. L. 95-557, title III,
Sec. 305(b), Oct. 31, 1978, 92 Stat. 2097.)
Codification
Section was enacted as part of the Housing and Urban Development Act
of 1970, and not as part of the National Housing Act which comprises
this chapter.
Study To Determine Feasibility of Underground Construction of
Residential Housing
Section 305(c) of Pub. L. 95-557 required the Secretary to study the
feasibility of underground construction of residential housing and
necessary changes in housing codes and financing, and report to Congress
no later than one year after Oct. 31, 1978 as to the findings and
recommendations of legislative enactments as a result of the study.
