The HUD Accountability Act of 2024 requires the Secretary of Housing and Urban Development to testify annually before the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee for a five-year period after the bill becomes law. During these hearings, the Secretary must report on the department's progress in addressing affordable housing and homelessness, the status of current HUD programs, the physical condition of public and HUD-assisted housing, and the financial health of FHA mortgage insurance funds. The Secretary must also discuss oversight efforts to prevent waste, fraud, and abuse among grant recipients, as well as how the 2017 changes to the SALT tax deduction have affected homeownership costs, though this last requirement would lapse if that tax provision reverts to its pre-2017 form. This bill primarily affects HUD leadership and the congressional committees responsible for housing oversight, aiming to increase transparency and accountability in federal housing policy. It does not create new funding but instead establishes a recurring reporting and oversight obligation for the department.
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