The Bring Down Housing Costs Act establishes a 21-member task force, led by the Department of Housing and Urban Development, to identify states experiencing rising housing costs and develop best practices to address the problem. Within one year of its first meeting, the task force must identify affected states, create a report with recommended solutions, and monitor how well states implement these recommendations. The task force will include members of Congress from all HUD regions, federal housing officials, local community organizations, and private sector experts in housing development and finance. The task force will meet quarterly and submit annual reports to state governors and relevant federal committees, with the task force itself dissolving five years after the bill is enacted. The legislation does not specify funding amounts but directs the task force to focus on practical solutions that states can adopt to make housing more affordable.
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