98 STAT. 912 PUBLIC LAW 98-369-JULY 18, 1984

. (d) CIVIL PENALTIES.—

(1) Subchapter B of chapter 68 (relating to assessable penal-
ties) is amended by adding at the end thereof the following new
section:

26 USC 6708. "SEC. 6708. PENALTIES WITH RESPECT TO MORTGAGE CREDIT CERTIFI-
Ante, p. 682. CATES.

"(a) NEGLIGENCE.—If—

"(1) any person makes a material misstatement in any veri-
fied written statement made under penalties of perjury with
respect to the issuance of a mortgage credit certificate, and
"(2) such misstatement is due to the negligence of such
person,

such person shall pay a penalty of $1,OOO for each mortgage credit
certificate with respect to which such a misstatement was made,
"(b) FRAUD.—If a misstatement described in subsection (a)(l) is
due to fraud on the part of the person making such misstatement, in
addition to any criminal penalty, such person shall pay a penalty of
$10,000 for each mortgage credit certificate with respect to which
such a misstatement is made.

Ante, p. 905. "(c) REPORTS.—Any person required by section 25(g) to file a report

with the Secretary who fails to file the report with respect to any
mortgage credit certificate at the time and in the manner required
by the Secretary shall pay a penalty of $200 for such failure unless it
is shown that such failure is due to reasonable cause and not to
willful neglect. In the case of any report required under the second
sentence of section 25(g), the aggregate amount of the penalty
imposed by the preceding sentence shall not exceed $2,000.

"(d) MORTGAGE CREDIT CERTIFICATE.—The term 'mortgage credit
certificate' has the meaning given to such term by section 25(c)."

(2) The table of sections for subchapter B of chapter 68 is
amended by adding at the end thereof the following new item:

"Sec. 6708. Penalties with respect to mortgage credit certificates."

(e) TECHNICAL AMENDMENTS.—

Ante, pp. 826, (1) Sections 28(d)(2), 29(b)(5), 30(g)(l)(A), 38(c)(2), and 901(a), as

827; 26 USC 901. amended by this Act, are each amended by striking out "section

25(b)" and inserting in lieu thereof "section 26(b)".

Ante, p. 826. (2) Section 23(b)(5), as amended by this Act, is amended by

striking out "section 25(a)" and inserting in lieu thereof "sec-
tion 26(a)" and by striking out "(other than this section)" and
inserting in lieu thereof "(other than this section and section
25)".

Ante, p. 838. (3) Paragraph (8) of section 55(c) is amended—

(A) by striking out "25" each, place it appears and insert-
ing in lieu thereof "26", and

(B) by striking out "section 23,30, or 38" and inserting in
lieu thereof "section 23, 25, 30, or 38".

26 USC 168. (4) Clause (iii) of section 168(i)(l)CD), as added by section 208(a)

of the Tax Equity and Fiscal Responsibility Act of 1982 and
amended by this Act, is amended by striking out "section
25(b)(2)" and inserting in lieu thereof "section 26(b)(2)".

(5) Clause (iii) of section 168(i)(l)(D), as added by section 209(b)
ot the Tax Equity and Fiscal Responsibility Act of 1982 and
amended by this Act, is amended by striking out "section
25(b)(2)" and inserting in lieu thereof "section 26(b)(2)".