PUBLIC LAW 94-324—JUNE 30, 1976 of that State expressly limiting the amount of interest which may be charged, taken, received, or reserved shall not apply to— (1) any loan or mortgage which is secured by a one- to fourfamily dwelling and which is (A) insured under title I or II of the National Housing Act, or (B) insured, guaranteed, or made under chapter 87 of title 88, United States Code; or (2) any temj^orary construction loan or other interim financing if at the time such loan is made or financing is arranged, the intention to obtain permanent financing substantially by means of loans or mortgages so insured, guaranteed, or made is declared. (b) The provisions of this section shall apply to such loans, mortgages, or other interim financing made or executed in any State until the effective date (after the date of enactment of this section) of a provision of law of that State limiting the amount of interest which may be charged, taken, received, or reserved on such loans, mortgages, or financing. SEC. 9, (a) Except as provided in subsection (b), the provisions of this Act shall become effective on the date of enactment. (b) Sections 2 and 3 shall become effective on October 1, 1976. Section 5 shall become effective on July 1, 1976. Approved June 30, 1976.
LEGISLATIVE HISTORY: HOUSE REPORT No. 94-1129 accompanying H.R. 13724 (Comm. on Veterans' Affairs). SENATE REPORT No. 94-806 (Comm. on Veterans' Affairs). CONGRESSIONAL RECORD, Vol. 122 (1976): May 13, considered and passed Senate. May 18, considered and passed House, amended, in lieu of H.R. 13724. June 11, Senate concurred in House amendments with amendments. June 16, House concurred in Senate amendments.
90 STAT. 723
12 USC 1702, 1707. 38 USC 1801 et seq
Effective dates.
38 USC 1801 note.
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