Pub. L. 108-199, div. G, tit. II, sec. 219

Sec. 219. The Secretary of Housing and Urban Development shall issue a proposed rulemaking, in accordance with title V, United States Code, not later than 90 days from the date of enactment of this Act that—(1) addresses and expands, as necessary, the participation and certification requirements for the sale of HUD-owned multifamily housing projects and the foreclosure sale of any multifamily housing securing a mortgage held by the Secretary, including whether a potential purchaser is in substantial compliance with applicable State or local government housing statutes, regulations, ordinances and codes with regard to other properties owned by the purchaser; and(2) requires any state, city, or municipality that exercises its right of first refusal for the purchase of a multifamily 118 STAT. 398 housing project under section 203 of the Housing and Community Development Amendments of 1978 (12 U.S.C. 1701z–11(i)) to ensure that potential purchasers of the project from the state, city, or municipality are subject to the same standards that they would otherwise be subject to if they had purchased the project directly from the Secretary, including whether a potential purchaser is in substantial compliance with applicable State or local government housing statutes, regulations, ordinances and codes with regard to other properties owned by the purchaser.