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 addi-
tion to the Committee on Financial Services, for a period to be subse-
quently 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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Housing Market 
Transparency Act’’. 
VerDate Sep 11 2014 
05:37 Jul 04, 2024
Jkt 049200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H8500.IH
H8500
kjohnson on DSK7ZCZBW3PROD with $$_JOB
SEC. 2. HUD REPORTING AND TRANSPARENCY ON LOW-IN-
COME HOUSING TAX CREDIT PROJECTS. 
(a) DEFINITIONS.—In this section: 
(1) COVERED PROPERTY.—The term ‘‘covered 
property’’ means a building receiving an allocation of 
credit under section 42 of the Internal Revenue 
Code of 1986. 
(2) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Housing and Urban Development. 
(b) COLLECTION OF INFORMATION.— 
(1) IN
GENERAL.—The Secretary shall regu-
larly collect and maintain data on covered prop-
erties, including— 
(A) development costs, including general 
contractor costs; 
(B) ownership data; 
(C) whether the owner is a pass-through 
entity; 
(D) the most recent habitability standards; 
(E) in the case of disposition of a covered 
property, the reason for the disposition, such as 
sale, foreclosure, or destruction; 
(F) the expiration date of affordable use 
provisions; 
(G) whether the owner has waived the 
right to a qualified contract; 
VerDate Sep 11 2014 
05:37 Jul 04, 2024
Jkt 049200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H8500.IH
H8500
kjohnson on DSK7ZCZBW3PROD with $$_JOB
(H) the most recent inspection and habit-
ability information; and 
(I) any other data determined relevant by 
the Secretary. 
(2) PROVISION OF DATA.—Each State agency 
administering credits under section 42 of the Inter-
nal Revenue Code of 1946 for covered properties 
shall, not later than 18 months after the date on 
which each such covered property is placed in service 
and annually thereafter, submit to the Secretary the 
data required to be collected under paragraph (1) 
with respect to those covered properties. 
(3) STANDARDS AND DEFINITIONS.—The Sec-
retary shall— 
(A) establish standards and definitions for 
the data collected under paragraph (1); 
(B) provide States with technical assist-
ance to establish systems to compile and submit 
data to the Secretary under paragraph (2); and 
(C) in coordination with other Federal 
agencies administering housing assistance pro-
grams, establish procedures to minimize dupli-
cative reporting requirements for covered prop-
erties assisted under multiple housing pro-
grams. 
VerDate Sep 11 2014 
05:37 Jul 04, 2024
Jkt 049200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H8500.IH
H8500
kjohnson on DSK7ZCZBW3PROD with $$_JOB
(4) REPORTING.—The Secretary shall— 
(A) not less frequently than annually, com-
pile and make publicly available the data col-
lected under paragraph (1), other than the date 
described in subparagraph (A) of that para-
graph; and 
(B) periodically assess and issue a public 
report on covered properties and the general 
multifamily housing development market. 
(5) PROPERTIES
NO
LONGER
IN
COMPLI-
ANCE.— With respect to a covered property that will 
no longer be eligible for an allocation of credit under 
section 42 of the Internal Revenue Code of 1986 be-
fore the end of a given year, the Secretary shall col-
lect data under paragraph (1) on the final owner or 
purchaser of the covered property, including whether 
the purchaser is a nonprofit entity. 
Æ 
VerDate Sep 11 2014 
05:37 Jul 04, 2024
Jkt 049200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\H8500.IH
H8500
kjohnson on DSK7ZCZBW3PROD with $$_JOB