§ 522. REGULATIONS.

365 words·~2 min read·/usc/title-42/section-522

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Rulemaking and Implementation.— Interim regulations .— The Director shall issue such interim regulations as may be necessary to implement this subtitle and the amendments made by this subtitle with respect to eligible multifamily housing projects covered by contracts described in section 512(2)(B) that expire in fiscal year 1999 or thereafter. If, before the expiration of such period, the Director has not been appointed, the Secretary shall issue such interim regulations. Final regulations .— The Director shall issue final regulations necessary to implement this subtitle and the amendments made by this subtitle with respect to eligible multifamily housing projects covered by contracts described in section 512(2)(B) that expire in fiscal year 1999 or thereafter before the later of:

(A)the expiration of the 12-month period beginning upon the date of the enactment of this Act [ Oct. 27, 1997 ]; and

(B)the 3-month period beginning upon the appointment of the Director under subtitle D. Factors for consideration .— Before the publication of the final regulations under paragraph (2), in addition to public comments invited in connection with publication of the interim rule, the Secretary shall— seek recommendations on the implementation of sections 513(b) and 515(c)(1) from organizations representing— State housing finance agencies and local housing agencies; other potential participating administering entities; tenants; owners and managers of eligible multifamily housing projects; States and units of general local government; and qualified mortgagees; and convene not less than 3 public forums at which the organizations making recommendations under subparagraph

(A)may express views concerning the proposed disposition of the recommendations. Transition Provision for Contracts Expiring in Fiscal Year 1998.— Notwithstanding any other provision of law, the Secretary shall apply all the terms of section 211 and section 212 of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 [ Pub. L. 104–204 , set out below] (except for section 212(h)(1)(G) and the limitation in section 212(k)) contracts for project-based assistance that expire during fiscal year 1998 (in the same manner that such provisions apply to expiring contracts defined in section 212(a)(3) of such Act), except that section 517(a) of the Act shall apply to mortgages on projects subject to such contracts.

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Pub. L. 104-204

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§ 522

REGULATIONS.

Pub. L.Pub. L. 104-204

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