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This section directs the Secretary of Housing and Urban Development, with respect to activities assisted under the HOME Investment Partnerships Program (title II of the Cranston-Gonzalez National Affordable Housing Act; i.e., formula grants to states and localities for affordable housing production, rehabilitation, and tenant-based rental assistance), to (1) complete a review of Build America, Buy America Act (BABA; i.e., domestic content preferences for iron, steel, manufactured products, and construction materials in federally funded infrastructure projects) implementation not later than 180 days after enactment; (2) issue updated BABA guidance not later than 90 days after completing the review; and (3) submit a report to the House Financial Services Committee and Senate Banking, Housing, and Urban Affairs Committee describing the review and guidance not later than 270 days after enactment.