Page:United States Statutes at Large Volume 111 Part 2.djvu/305

 PUBLIC LAW 105-65—OCT. 27, 1997 111 STAT. 1385 Sec. 514. Mortgage restructuring and rental assistance sufficiency plan. Sec. 515. Section 8 renewals and long-term affordability commitment by owner of project. Sec. 516. Prohibition on restructuring. Sec. 517. Restructuring tools. Sec. 518. Management standards. Sec. 519. Monitoring of compliance. Sec. 520. Reports to Congress. Sec. 521. GAO audit and review. Sec. 522. Regulations. Sec. 523. Technical and conforming amendments. Sec. 524. Section 8 contract renewals. SUBTITLE B—MISCELLANEOUS PROVISIONS Sec. 531. Rehabilitation grants for certain insured projects. Sec. 532. GAO report on section 8 rental assistance for multifamily housing projects. SUBTITLE C—ENFORCEMENT PROVISIONS Sec. 541. Implementation. Sec. 542. Income verification. PART 1—FHA SINGLE FAMILY AND MULTIFAMILY HOUSING Sec. 551. Authorization to immediately suspend mortgagees. Sec. 552. Extension of equity skimming to other smgle family and multifamily housing programs. Sec. 553. Civil money penalties against mortgagees, lenders, and other participants in FHA programs. PART 2—FHA MULTIFAMILY PROVISIONS Sec. 561. Civil money penalties against general partners, officers, directors, and certain managing agents of multifamily projects. Sec. 562. Civil money penalties for noncompliance with section 8 HAP contracts. Sec. 563. Extension of double damages remedy. Sec. 564. Obstruction of Federal audits. SUBTITLE D—OFFICE OF MULTIFAMILY HOUSING ASSISTANCE RESTRUCTURING Sec. 571. Establishment of Office of Multifamily Housing Assistance Restructuring. Sec. 572. Director. Sec. 573. Duty and authority of Director. Sec. 574. Personnel. Sec. 575. Budget and financial reports. Sec. 576. Limitation on subsequent employment. Sec. 577. Audits by GAO. Sec. 578. Suspension of program because of failure to appoint Director. Sec. 579. Termination. SEC. 510. SHORT TITLE. 12 USC 1701 This title may be cited as the "Multifamily Assisted Housing Reform and Affordability Act of 1997". Subtitle A—FHA -Insured Multifamily Housing Mortgage and Housing Assistance Restructuring SEC. 511. FINDINGS AND PURPOSES. 42 USC 1437f (a) FINDINGS. —Congress finds that— ' ^°*®' (1) there exists throughout the Nation a need for decent, safe, and affordable housing; (2) as of the date of enactment of this Act, it is estimated that— (A) the insured multifamily housing portfolio of the Federal Housing Administration consists of 14,000 rental properties, with an aggregate unpaid principal mortgage balance of $38,000,000,000; and (B) approximately 10,000 of these properties contain housing units that are assisted with project-based rental

�