I 

118TH CONGRESS 

2D SESSION H. R. 8500 

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 22, 2024 

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. 

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’’. 


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1 SEC. 2. HUD REPORTING AND TRANSPARENCY ON LOW-IN2 COME HOUSING TAX CREDIT PROJECTS. 

3 (a) DEFINITIONS.—In this section: 

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

5 property’’ means a building receiving an allocation of 

6 credit under section 42 of the Internal Revenue 

7 Code of 1986. 

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

9 the Secretary of Housing and Urban Development. 

10 (b) COLLECTION OF INFORMATION.— 

11 (1) IN GENERAL.—The Secretary shall regu12 larly collect and maintain data on covered prop13 erties, including— 

14 (A) development costs, including general 

15 contractor costs; 

16 (B) ownership data; 

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

18 entity; 

19 (D) the most recent habitability standards; 

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

21 property, the reason for the disposition, such as 

22 sale, foreclosure, or destruction; 

23 (F) the expiration date of affordable use 

24 provisions; 

25 (G) whether the owner has waived the 

26 right to a qualified contract; 


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1 (H) the most recent inspection and habit2 ability information; and 

3 (I) any other data determined relevant by 

4 the Secretary. 

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

6 administering credits under section 42 of the Inter7 nal Revenue Code of 1946 for covered properties 

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

9 which each such covered property is placed in service 

10 and annually thereafter, submit to the Secretary the 

11 data required to be collected under paragraph (1) 

12 with respect to those covered properties. 

13 (3) STANDARDS AND DEFINITIONS.—The Sec14 retary shall— 

15 (A) establish standards and definitions for 

16 the data collected under paragraph (1); 

17 (B) provide States with technical assist18 ance to establish systems to compile and submit 

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

20 (C) in coordination with other Federal 

21 agencies administering housing assistance pro22 grams, establish procedures to minimize dupli23 cative reporting requirements for covered prop24 erties assisted under multiple housing pro25 grams. 


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1 (4) REPORTING.—The Secretary shall— 

2 (A) not less frequently than annually, com3 pile and make publicly available the data col4 lected under paragraph (1), other than the date 

5 described in subparagraph (A) of that para6 graph; and 

7 (B) periodically assess and issue a public 

8 report on covered properties and the general 

9 multifamily housing development market. 

10 (5) PROPERTIES NO LONGER IN COMPLI11 ANCE.— With respect to a covered property that will 

12 no longer be eligible for an allocation of credit under 

13 section 42 of the Internal Revenue Code of 1986 be14 fore the end of a given year, the Secretary shall col15 lect data under paragraph (1) on the final owner or 

16 purchaser of the covered property, including whether 

17 the purchaser is a nonprofit entity. 

Æ 


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