(1) Every person, firm, partnership, copartnership, association, corporation, or other business entity owning or operating any hotel, motel, apartment building, or other similar multiple-occupancy facility affected by this subchapter shall, with respect to buildings constructed before July 19, 1971, bring the buildings within conformance to this subchapter on or before July 19, 1972.
(2) All new hotels, motels, apartment buildings, or other similar multiple-occupancy facilities constructed from and after July 19, 1971, shall conform to this subchapter.