II 

117TH CONGRESS 

2D SESSION S. 4737 

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 SENATE OF THE UNITED STATES 

AUGUST 2, 2022 

Mr. WARNOCK introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Housing Market 

5 Transparency Act’’. 

6 SEC. 2. HUD REPORTING AND TRANSPARENCY ON LOW-IN7 COME HOUSING TAX CREDIT PROJECTS. 

8 (a) DEFINITIONS.—In this section: 


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1 (1) COVERED PROPERTY.—The term ‘‘covered 

2 property’’ means a building receiving an allocation of 

3 credit under section 42 of the Internal Revenue 

4 Code of 1986. 

5 (2) SECRETARY.—The term ‘‘Secretary’’ means 

6 the Secretary of Housing and Urban Development. 

7 (b) COLLECTION OF INFORMATION.— 

8 (1) IN GENERAL.—The Secretary shall regu9 larly collect and maintain data on covered prop10 erties, including— 

11 (A) development costs, including general 

12 contractor costs; 

13 (B) ownership data; 

14 (C) whether the owner is a pass-through 

15 entity; 

16 (D) the most recent habitability standards; 

17 (E) in the case of disposition of a covered 

18 property, the reason for the disposition, such as 

19 sale, foreclosure, or destruction; 

20 (F) the expiration date of affordable use 

21 provisions; 

22 (G) whether the owner has waived the 

23 right to a qualified contract; 

24 (H) the most recent inspection and habit25 ability information; and 


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1 (I) any other data determined relevant by 

2 the Secretary. 

3 (2) PROVISION OF DATA.—Each State agency 

4 administering credits under section 42 of the Inter5 nal Revenue Code of 1946 for covered properties 

6 shall, not later than 18 months after the date on 

7 which each such covered property is placed in service 

8 and annually thereafter, submit to the Secretary the 

9 data required to be collected under paragraph (1) 

10 with respect to those covered properties. 

11 (3) STANDARDS AND DEFINITIONS.—The Sec12 retary shall— 

13 (A) establish standards and definitions for 

14 the data collected under paragraph (1); 

15 (B) provide States with technical assist16 ance to establish systems to compile and submit 

17 data to the Secretary under paragraph (2); and 

18 (C) in coordination with other Federal 

19 agencies administering housing assistance pro20 grams, establish procedures to minimize dupli21 cative reporting requirements for covered prop22 erties assisted under multiple housing pro23 grams. 

24 (4) REPORTING.—The Secretary shall— 


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1 (A) not less frequently than annually, com2 pile and make publicly available the data col3 lected under paragraph (1), other than the date 

4 described in subparagraph (A) of that para5 graph; and 

6 (B) periodically assess and issue a public 

7 report on covered properties and the general 

8 multifamily housing development market. 

9 (5) PROPERTIES NO LONGER IN COMPLI10 ANCE.— With respect to a covered property that will 

11 no longer be eligible for an allocation of credit under 

12 section 42 of the Internal Revenue Code of 1986 be13 fore the end of a given year, the Secretary shall col14 lect data under paragraph (1) on the final owner or 

15 purchaser of the covered property, including whether 

16 the purchaser is a nonprofit entity. 

Æ 


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