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This section directs the Secretary of Housing and Urban Development to study the impacts of the Build America, Buy America Act on grantees, builders, and contractors using covered programs for affordable housing, including direct material costs, indirect compliance and waiver costs, project delays, and the number of units left unbuilt, as well as the Department's waiver review processes, timelines, number of waivers granted, use of general public interest waivers, effectiveness of the de minimis waiver, and materials most often requiring waivers. It requires submission of a report containing all study findings to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs within 90 days after study completion.
This section pauses implementation of Buy America requirements under chapter 83 of title 41, United States Code, for any covered project assisted by a covered program until 60 days after delivery of the report required under subsection (a) to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs.
This section requires the Secretary of Housing and Urban Development to render a decision on any waiver request from the Build America, Buy America Act requirements for a covered project within 90 days of receipt. If the Secretary fails to decide within that period, the waiver is deemed granted, final, and irrevocable with no further federal review permitted.
This section defines "covered program" to include 14 specified federal housing programs, including public housing, section 8 rental assistance, the HOME Investment Partnerships program, supportive housing for the elderly and persons with disabilities, Native American and Native Hawaiian housing programs, the Housing Trust Fund, McKinney-Vento homeless assistance, AIDS housing, rural rental housing, Community Development Block Grants, capacity building, and the Choice Neighborhoods Initiative. It defines "covered project" as any project assisted by a covered program that is subject to the Build America, Buy America Act and primarily involves the purchase, construction, rehabilitation, preservation, or improvement of residential housing.