Two committees must hold a hearing on the report's findings
What the document says“Upon the completion of the report under paragraph (2), the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives shall each hold a hearing on the findings of the report and the feasibility of establishing a public appraisal-level appraisal database.”
The section requires the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services each to hold a hearing on the report's findings and on whether a public appraisal database should be set up.
What the document actually says“Upon the completion of the report under paragraph (2), the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives shall each hold a hearing on the findings of the report and the feasibility of establishing a public appraisal-level appraisal database.”
Once the report is done, two committees must each hold a hearing. The hearing covers what the report found. It also covers whether the database should be built.
A hearing is a public meeting of a committee. Without it a report can sit unread. This makes the next step a duty.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.