H.R. 7344: Affordable Housing Supply Chain Clarity Act

The Affordable Housing Supply Chain Clarity Act aims to enhance the implementation of the Build America, Buy America Act specifically in relation to the HOME Investment Partnerships Program. Here’s a breakdown of what the bill would entail:

Review of Existing Requirements

Within 180 days of the bill being enacted, the Secretary of Housing and Urban Development (HUD) is required to conduct a review of how the Build America, Buy America Act has been applied to activities funded under the HOME Investment Partnerships Program. This program focuses on providing affordable housing through partnerships between federal, state, and local governments.

Issuance of Updated Guidance

Following the review, the Secretary must provide updated guidance within 90 days. This guidance will clarify how the requirements of the Build America, Buy America Act apply to the aforementioned housing program. The goal is to ensure compliance with the law while supporting affordable housing initiatives.

Reporting Requirements

Finally, 270 days after the enactment of the bill, the Secretary must submit a report to both the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs. This report will detail:

• The findings of the review conducted under the first provision.
• The new guidance that was issued as a result of that review.

Overall Purpose

The overarching aim of the legislation is to provide clarity and ensure that the requirements under the Build America, Buy America Act are effectively integrated into the affordable housing sector, promoting the use of domestic materials and labor in federally funded housing projects.

Relevant Companies

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