Page:United States Statutes at Large Volume 111 Part 2.djvu/336

 Ill STAT. 1416 PUBLIC LAW 105-65—OCT. 27, 1997 Regulations. 12 USC 1735f-15 note. Publication. 12 USC 1735f-15 note. 42 USC 1437z. (4) in subsection (e)(1), by deleting "a mortgagor" and inserting "an entity or person"; (5) in subsection (f), by inserting after "mortgagor" each place such term appears the following: ", general partner of a partnership mortgagor, officer or director of a corporate mortgagor, or identity of interest agent employed to manage the property"; (6) by striking the heading of subsection (f) and inserting the following: "CIVIL MONEY PENALTIES AGAINST MULTIFAMILY MORTGAGORS, GENERAL PARTNERS OF PARTNERSHIP MORTGA- GORS, OFFICERS AND DIRECTORS OF CORPORATE MORTGAGORS, AND CERTAIN MANAGING AGENTS"; and (7) by adding at the end the following: "(k) IDENTITY OF INTEREST MANAGING AGENT.— In this section, the terms 'agent employed to manage the property that has an identity of interest' and 'identity of interest agent' mean an entity— "(1) that has management responsibility for a project; "(2) in which the ownership entity, including its general partner or partners (if applicable) and its officers or directors (if applicable), has an ownership interest; and "(3) over which the ownership entity exerts effective control.". (b) IMPLEMENTATION.— (1) PUBLIC COMMENT.—The Secretary shall implement the amendments made by this section by regulation issued after notice and opportunity for public comment. The notice shall seek comments primarily as to the definitions of the terms "ownership interest in" and "effective control", as those terms are used in the definition of the terms "agent employed to manage the property that has an identity of interest" and "identity of interest agent". (2) TIMING. —A proposed rule implementing the amendments made by this section shall be published not later than 1 year after the date of enactment of this Act. (c) APPLICABILITY OF AMENDMENTS. —The amendments made by subsection (a) shall apply only with respect to— (1) violations that occur on or after the effective date of the final regulations implementing the amendments made by this section; and (2) in the case of a continuing violation (as determined by the Secretary of Housing and Urban Development), any portion of a violation that occurs on or after that date. SEC. 562. CIVIL MONEY PENALTIES FOR NONCOMPLIANCE WITH SECTION 8 HAP CONTRACTS. (a) BASIC AUTHORITY. —Title I of the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended— (1) by designating the second section designated as section 27 (as added by section 903(b) of Public Law 104-193 (110 Stat. 2348)) as section 28; and (2) by adding at the end the following: 42 USC 1437Z-1. "SEC. 29. CIVIL MONEY PENALTIES AGAINST SECTION 8 OWNERS. "(a) IN GENERAL. — "(1) EFFECT ON OTHER REMEDIES.— The penalties set forth in this section shall be in addition to any other available civil remedy or any available criminal penalty, and may be

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