HUD assessment and recommendations

(a) In general The Secretary of Housing and Urban Development, in coordination with the Comptroller General of the United States, shall— (1) review the findings of the study required under section 3(a); (2) evaluate the impact of foreign real estate investment on housing markets and affordability in the United States; and (3) consult with State and local housing authorities on trends in the foreign purchase of residential real estate. (b) Policy Recommendations Not later than 180 days after the date of submission of the report under section 3(c), the Secretary of Housing and Urban Development shall submit to Congress a report that includes— (1) recommendations for improving the transparency of foreign ownership in residential property transactions in the United States; (2) recommendations for protecting access to residential real estate transactions for residents of the United States; and (3) any legislative or regulatory actions determined necessary to carry out the recommendations described in paragraph (1) and (2).