H.R.3216 - Housing Market Transparency Act (119th Congress)
Summary
H.R.3216, the Housing Market Transparency Act, aims to increase transparency in the Low-Income Housing Tax Credit (LIHTC) program. It mandates the Secretary of Housing and Urban Development (HUD) to collect and publish data on properties receiving LIHTC allocations. This includes development costs, ownership data, habitability standards, and disposition details.
Expected Effects
The bill's likely effect is improved oversight and accountability within the LIHTC program. Publicly available data could help identify inefficiencies, ensure compliance with habitability standards, and inform future housing policy decisions. Ultimately, this could lead to better allocation of resources and improved housing outcomes for low-income individuals and families.
Potential Benefits
- Increased transparency in the LIHTC program, allowing for better monitoring of funds.
- Improved accountability of property owners and state agencies administering the credits.
- Data-driven insights for policymakers to optimize the LIHTC program's effectiveness.
- Potential for identifying and addressing issues related to habitability and property management.
- Enhanced understanding of the low-income housing market for researchers and the public.
Potential Disadvantages
- Increased administrative burden on state agencies responsible for data collection and reporting.
- Potential for privacy concerns related to property owner data, although the bill focuses on aggregate data.
- Costs associated with establishing and maintaining the data collection and reporting systems.
- Risk of misinterpretation or misuse of the data if not presented and analyzed carefully.
- Possible delays in project implementation due to increased reporting requirements.
Constitutional Alignment
The bill appears to align with the Constitution, particularly the General Welfare Clause (Preamble). By promoting transparency and accountability in housing programs, the bill aims to improve the living conditions of low-income individuals, which falls under the purview of promoting the general welfare. The bill does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).