Reporting requirements for bond usage

(a) In general Section 146 is amended by adding at the end the following: (o) Reporting Not later than December 31 of each calendar year, the Secretary shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Financial Services of the House of Representatives, the Committee on Ways and Means of the House of Representatives, and the Committee on Finance of the Senate, containing information, as provided to the Secretary by State and local issuing authorities, which specifies for each State— (1) the State ceiling of the State for the preceding calendar year, (2) the aggregate amount of carryforwards available to all issuing authorities in the State available as of the first day of such preceding calendar year, (3) the total bond authority for such State for such preceding calendar year, as represented by the sum of the amounts reported under paragraphs (1) and (2), (4) the aggregate amount of private activity bonds issued by issuing authorities in the State during such preceding calendar year for each purpose described in subsection (f)(5), including— (A) the amount of such bonds that were subject to the volume cap, and (B) the amount of such bonds that were issued pursuant to a carryforward under subsection (f), (5) the aggregate amount of carryforwards described in paragraph (2) that expired after the last day of the preceding calendar year, and (6) total amount of any excess amounts described in paragraph (1) of subsection (f) for the preceding calendar year which issuing authorities in the State did not elect to treat as a carryforward under such subsection.. (b) Electronic reports by issuers Section 149(e) is amended by adding at the end the following new paragraph: (4) Electronic reporting Any statement required under paragraph (2) shall be submitted electronically.. (c) Authority to disclose information Section 6103(f) is amended by adding at the end the following new paragraph: (6) Volume cap reporting The Secretary may disclose to the committees described in section 146(o) the information required under such section.. (d) Effective date The amendment made by this section shall apply to calendar years beginning after the date of enactment of this Act.