To require the Secretary of Housing and Urban Development to notify the Congress of any shortfall in funding for the tenant-based rental assistance program under section 8 of the United States Housing Act of 1937.

January 26, 2005

Mr. LYNCH introduced the following bill; which was referred to the Committee on Financial Services

To require the Secretary of Housing and Urban Development to notify the Congress of any shortfall in funding for the tenant-based rental assistance program under section 8 of the United States Housing Act of 1937.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `HUD Transparency and Accountability Act of 2005'.

SEC. 2. NOTIFICATION OF FUNDING SHORTFALL.

Subsection (dd) of section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f(dd)) is amended--

(1) by inserting `(1)' before `Subject'; and

(2) by adding at the end the following new paragraph:

`(2) If, at any time, the Secretary determines or is notified by any public housing agency that the amount made available for any fiscal year for tenant-based assistance under this section is not sufficient to fully fund the authorized level of units under all annual contributions contracts, the Secretary shall promptly submit to the Committees on Appropriations and on the Budget of the House of Representatives and the Senate, the Committee on Financial Services of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate notice of such funding shortfall and an estimate of the amount needed to correct such shortfall.'.

END