H.R. 3216 — Housing Market Transparency Act

This section directs the Secretary of Housing and Urban Development (HUD) to regularly collect and maintain specified data on low-income housing tax credit (LIHTC) properties (i.e., covered properties receiving an allocation under IRC §42), including development costs (such as general contractor costs), ownership data, pass-through entity status, habitability standards, disposition reasons (e.g., sale, foreclosure, destruction), affordable use expiration dates, qualified contract waivers, inspection and habitability information, and other relevant data determined by the Secretary. It requires each state LIHTC agency to submit such data to HUD not later than 18 months after a property is placed in service and annually thereafter. The Secretary must establish data standards and definitions, provide technical assistance to states for compliance, and coordinate with other federal housing agencies to minimize duplicative reporting. The Secretary must annually compile and publicly release the data (excluding development costs) and periodically issue public reports assessing LIHTC properties and the multifamily housing market. For properties losing LIHTC eligibility before year-end, the Secretary must collect data on the final owner or purchaser, including nonprofit status.