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.
About This Bill
Committee
Latest Action · May 22, 2024
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.
The Housing Market Transparency Act requires the Department of Housing and Urban Development to collect detailed information about properties that receive low-income housing tax credits and make that data publicly available. The bill covers buildings funded through this federal tax credit program and requires states administering these credits to submit data to HUD within 18 months of a property opening and then annually thereafter. The collected information includes development costs, ownership details, inspection records, and information about when affordable housing protections expire or properties change hands. HUD must establish reporting standards, assist states with data collection systems, and publish the compiled information at least once per year, along with periodic reports on the low-income housing market. This legislation aims to increase transparency around the use of federal housing tax credits and help monitor whether these subsidized properties remain affordable and well-maintained over time.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.