119-hr3216

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3216 Introduced in House

    (IH) ]

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119th CONGRESS
 1st Session
 H. R. 3216

 To require the Secretary of Housing and Urban Development to collect 
and make publicly available data on properties receiving an allocation 
 of credit under the low-income housing tax credit, and for other 
 purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 May 6, 2025

 Mr. Horsford (for himself and Mr. Cleaver) introduced the following 
 bill; which was referred to the Committee on Ways and Means, and in 
 addition to the Committee on Financial Services, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
 of such provisions as fall within the jurisdiction of the committee 
 concerned

_______________________________________________________________________

 A BILL

 To require the Secretary of Housing and Urban Development to collect 
and make publicly available data on properties receiving an allocation 
 of credit under the low-income housing tax credit, and for other 
 purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Housing Market Transparency Act''.

SEC. 2. HUD REPORTING AND TRANSPARENCY ON LOW-INCOME HOUSING TAX CREDIT 
 PROJECTS.

    (a) 

=== Definitions. ===
-In this section:

    (1) Covered property.--The term ``covered property'' means 
 a building receiving an allocation of credit under 

section 42 
 of the Internal Revenue Code of 1986.

    (2) Secretary.--The term ``Secretary'' means the Secretary 
 of Housing and Urban Development.

    (b) Collection of Information.--

    (1) In general.--The Secretary shall regularly collect and 
 maintain data on covered properties, including--
        (A) development costs, including general contractor 
 costs;
        (B) ownership data;
            (C) whether the owner is a pass-through entity;
            (D) the most recent habitability standards;
        (E) in the case of disposition of a covered 
 property, the reason for the disposition, such as sale, 
 foreclosure, or destruction;
        (F) the expiration date of affordable use 
 provisions;
        (G) whether the owner has waived the right to a 
 qualified contract;
        (H) the most recent inspection and habitability 
 information; and
            (I) any other data determined relevant by the 
 Secretary.

    (2) Provision of data.--Each State agency administering 
 credits under 

section 42 of the Internal Revenue Code of 1946 
 for covered properties shall, not later than 18 months after 
 the date on which each such covered property is placed in 
 service and annually thereafter, submit to the Secretary the 
 data required to be collected under paragraph

    (1) with respect 
 to those covered properties.

    (3) Standards and 

=== definitions. ===
-The Secretary shall--
        (A) establish standards and definitions for the 
 data collected under paragraph

    (1) ;
        (B) provide States with technical assistance to 
 establish systems to compile and submit data to the 
 Secretary under paragraph

    (2) ; and
            (C) in coordination with other Federal agencies 
 administering housing assistance programs, establish 
 procedures to minimize duplicative reporting 
 requirements for covered properties assisted under 
 multiple housing programs.

    (4) Reporting.--The Secretary shall--
        (A) not less frequently than annually, compile and 
 make publicly available the data collected under 
 paragraph

    (1) , other than the date described in 
 subparagraph
        (A) of that paragraph; and
        (B) periodically assess and issue a public report 
 on covered properties and the general multifamily 
 housing development market.

    (5) Properties no longer in compliance.--With respect to a 
 covered property that will no longer be eligible for an 
 allocation of credit under 

section 42 of the Internal Revenue 
 Code of 1986 before the end of a given year, the Secretary 
 shall collect data under paragraph

    (1) on the final owner or 
 purchaser of the covered property, including whether the 
 purchaser is a nonprofit entity.
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