Senator Reverend Raphael Warnock (D-GA) introduced the “Housing Market Transparency Act” (S.4737) on August 24. The NLIHC-supported bill would help address the need for more data transparency within the affordable housing market, specifically within the Low Income Housing Tax Credit (LIHTC) program. The bill would require state housing finance agencies to submit annual LIHTC property data to HUD, including data on development costs, habitability standards, ownership data, whether the owner has waived the right to qualified contract, the expiration date of affordability requirements, and any other data the HUD secretary deems relevant. The Housing Market Transparency Act would help keep tenants well-informed and enable researchers, advocates, and regulators to improve the LIHTC program.
Read the press release introducing the legislation at: https://bit.ly/3QU8gQy
Read the text of the Housing Market Transparency Act at: https://bit.ly/3p85avK
Learn more about the Housing Market Transparency Act at: https://bit.ly/3RdcC51