Page:United States Statutes at Large Volume 122.djvu/2790

 12 2 STA T . 2 76 7 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 ‘ ‘ (2)TAX A TION.— T heAg e ncy,i nc lud ing i tsfra nchise, its ca p ital, reser v es, and surplus, and its inc om e, shall b ee x empt from all taxation imposed by any S tate, county, municipality, or local taxing authority, except that any real property of the Agency shall be sub j ect to State, territorial, county, municipal, or local taxation to the same extent according to its value as other real property is taxed, except that, not w ithstanding the failure of any person to challenge an assessment under State law of the value of such property, and the tax thereon, shall be determined as of the period for which such tax is imposed. ‘‘( 3 ) PR O PE RT Y PROTE C TION.— N o property of the Agency shall be subject to levy, attachment, garnishment, foreclosure, or sale without the consent of the Agency, nor shall any involun - tary lien attach to the property of the Agency. ‘‘( 4 ) PENA L TIE S AN DF INES.—The Agency shall not be liable for any amounts in the nature of penalties or fines, including those arising from the failure of any person to pay any real property, personal property, probate, or recording tax or any recording or filing fees when due. ‘‘( k ) PRO H I B ITION OF C HARTER R E V OCATION.— I n no case may the receiver appointed pursuant to this section revoke, annul, or terminate the charter of an enterprise. ’ ’. (b) TECHNICAL AND CONFOR M IN G AMENDMENTS.—The F ederal H ousing E nterprises Financial Safety and Soundness Act of 19 92 (12 U .S.C. 4 50 1etse q .) is amended— (1) in section 13 68 (12 U.S.C. 4618)— (A) by striking ‘‘an enterprise’’ each place that term appears and inserting ‘‘a regulated entity’’ and ( B ) by striking ‘‘the enterprise’’ each place that term appears and inserting ‘‘the regulated entity’’; (2) in section 1369C (12 U.S.C. 4622), by striking ‘‘enter- prise’’ each place that term appears and inserting ‘‘regulated entity’’; (3) in section 1369 D (12 U.S.C. 4623)— (A) by striking ‘‘an enterprise’’ each place that term appears and inserting ‘‘a regulated entity’’; and (B) in subsection (a)(1), by striking ‘‘An enterprise’’ and inserting ‘‘A regulated entity’’; and (4) by striking sections 1369, 1369A, and 1369B (12 U.S.C. 4619, 4620, and 4621). Subti t leD—Enforc e m ent A ction sSEC.1 1 5 1. CE A SEA ND DES I S TPRO CEEDIN G S. Section 13 7 1 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4631) is amended— (1) by striking subsections (a) and (b) and inserting the following

‘‘(a) ISS U ANCE FOR UNSAFE OR UNSOUND PRACTICES AND V IOLA- TIONS.— ‘‘(1) AUTHORITY OF DIRECTOR.—If, in the opinion of the Director, a regulated entity or any entity-affiliated party is engaging or has engaged, or the Director has reasonable cause to believe that the regulated entity or any entity-affiliated party is about to engage, in an unsafe or unsound practice

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