12 U.S.C. § 1748

August 11, 1955June 30, 1955June 30, 1956June 30, 1956August 11, 1955ProvidedJune 15, 1956And provided further12 U.S.C. 1748dAugust 11, 1955“Notwithstanding the provisions of section 401 of this Act [amending this subchapter], the provisions of title VIII of the National Housing Act [this subchapter] in effect prior to the enactment of the Housing Amendments of 1955 [] shall continue in full force and effect with respect to all mortgages insured pursuant to a certification by the Secretary of Defense or his designee made on or before , and a commitment to insure issued on or before or pursuant to a certification by the Atomic Energy Commission or its designee made on or before , except that the maximum dollar amount for each such mortgage shall be $12,500,000.] Nothing contained in the provisions of title VIII of the National Housing Act [this subchapter] in effect prior to or any related provision of law, shall be construed to exempt from State or local taxes or assessments the interest of a lessee from the Federal Government in or with respect to any property covered by a mortgage insured under such provisions of title VIII: , That, no such taxes or assessments (not paid or encumbering such property or interest prior to ) on the interest of such lessee shall exceed the amount of taxes or assessments on other similar property of similar value, less such amount as the Secretary of Defense or his designee determines to be equal to (1) any payments made by the Federal Government to the local taxing or other public agencies involved with respect to such property, plus (2) such amount as may be appropriate for any expenditures made by the Federal Government or the lessee for the provision or maintenance of streets, sidewalks, curbs, gutters, sewers, lighting, snow removal or any other services or facilities which are customarily provided by the State, county, city, or other local taxing authority with respect to such other similar property: , That the provisions of this section shall not apply to properties leased pursuant to the provisions of section 805 of the National Housing Act [] as amended on or after , which properties shall be exempt from State or local taxes or assessments.”