H.R. 3988: To direct the Secretary of Housing and Urban Development and the Director of the Bureau of the Census to conduct a study and submit a report about how Federal agencies identify and record cases of housing loss in the United States, and for other purposes.

The bill, referred to as H.R. 3988, aims to address the issue of housing loss in the United States by requiring a study to be conducted by the Secretary of Housing and Urban Development and the Director of the Bureau of the Census. This study will focus on how federal agencies identify and record cases of housing loss.

Key Components of the Bill

1. Study of Housing Loss

The bill mandates a comprehensive study to be completed by the Secretary of Housing and Urban Development and the Director of the Bureau of the Census. This study will investigate the methods used by federal agencies for identifying and recording housing loss instances.

2. Required Consultations

During the study, the mentioned officials are required to consult with several key agencies, including:

• The Director of the Bureau of Consumer Financial Protection
• The Director of the Federal Housing Finance Agency
• The Under Secretary for Economic Affairs within the Department of Commerce

3. Reporting Requirements

Within six months after the bill is enacted, a report must be submitted to various congressional committees. This report should include:

• Identification and definition of various types of housing loss experienced in the U.S. since January 1, 2022.
• Analysis of the most common types of housing loss.
• Identification of federal datasets that track housing loss and relevant details about these datasets.
• Recommendations for improving the identification and recording of housing loss cases, including suggestions for additional data collection and dataset consolidation.
• Identification of any necessary resources or legislative authorities needed to implement these recommendations.

4. Definition of Housing Loss

The bill defines "housing loss" as any situation where a person is forced to leave their home against their will, which can include:

• Eviction after a court ruling
• Informal eviction without a court judgment
• Foreclosure due to missed mortgage payments
• Foreclosure due to missed tax payments
• Displacement caused by natural disasters

Purpose and Goals

The primary purpose of this legislation is to improve the federal response to housing loss by ensuring that accurate data is collected, and effective policies are developed to address this significant social issue.

Relevant Companies

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