HUD study regarding adjustment of tax credit allocations to reflect geographic cost-of-living differences

The Secretary of Housing and Urban Development shall conduct a study to identify cost-of-living differences throughout the United States based on geographic location and proximity and accessibility to transit. Not later than the expiration of the 1-year period beginning on the date of the enactment of this Act, the Secretary shall submit a report to the Congress setting forth the results and conclusions of the study and recommending formulas for the adjustment of annual allocations to the States of low-income housing tax credits under section 42 of the Internal Revenue Code of 1986 to reflect such cost-of-living differences.