Horsford Introduces Bill to Improve Transparency in Affordable Housing
WASHINGTON – RealEstateRama – Congressmen Steven Horsford (NV-04) and Emanuel Cleaver (MO-05), Ranking Member of the House Financial Services Committee Housing and Insurance Subcommittee, introduced the Housing Market Transparency Act to expand data availability about the Low Income Housing Tax Credit (LIHTC) program. It will mandate annual reporting of detailed property data by state housing finance agencies to the Department of Housing and Urban Development (HUD).
“I’ve seen firsthand the critical role that affordable housing plays in our communities,” said Congressman Horsford. “It’s time we ensure that transparency isn’t just an expectation but a requirement. This bill will shed light on how affordable housing funds are spent and will ensure that stakeholders have the data they need to make informed decisions. Most importantly, it will keep Nevadans well informed about changes that could affect their housing.”
“The Housing Market Transparency Act isn’t merely a bureaucratic endeavor to bolster accountability and data collection around affordable housing,” said Congressman Cleaver. “This legislation is a commitment to fairness, empowering communities, and maintaining accessible pathways to stable, dignified living. I am proud to join Congressman Horsford in leading the charge in ensuring increased transparency in housing is a standard throughout the nation.”
The Housing Market Transparency Act sets a new standard for accountability within the LIHTC program. By requiring the annual submission of property-specific data such as developmental costs, habitability standards, and ownership details, the legislation addresses the longstanding issue of opacity that has complicated the efforts of researchers, policymakers, and advocates working to expand affordable housing. This comprehensive data collection will improve the efficiency and effectiveness of the LIHTC program to ensure that the allocated funds serve their intended purpose of supporting community development and tenant stability.
