H.R. 6864 — what changed

changed This Act may be cited as the “HUD Accountability Act of 2023”.2024”.

Section 7 of the Department of Housing and Urban Development Act (42 U.S.C. 3535) is amended by adding at the end the following new subsection:

changed “(u) Annual testimony—The testimony—During the 5-year period beginning on the date of the enactment of this subsection, the Secretary shall appear before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate at an annual hearing and present testimony regarding the operations of the Department during the preceding year, including regarding the following topics:

changed “(1) The physical condition of all public housing and other housing assisted progress made by the Department.Federal Government in ending the affordable housing and homelessness crises.

changed “(2) The financial health of the mortgage insurance funds current programs and operations of the FHA.Department.

changed “(3) Oversight by the Department The physical condition of grantees and sub-grantees engaging in waste, fraud, all public housing and abuse.other housing assisted by the Department.

changed “(4) Ongoing activities The financial health of the Department, as appropriate.”mortgage insurance funds of the FHA.

added “(5) Oversight by the Department of grantees and sub-grantees for purposes of preventing waste, fraud, and abuse.

added “(6) The effects of the changes made in 2017 to the Federal income tax deduction for State and local taxes (known as the SALT deduction) on the cost of homeownership in the United States, except that this paragraph shall not apply at any time that such tax deduction is in effect in the same form and manner as immediately before such 2017 changes.

added “(7) Other ongoing activities of the Department, as appropriate.”