This legislation directs the Comptroller General of the United States to undertake a comprehensive study and submit a report to Congress within one year of the Act's enactment. The primary purpose of this study is to thoroughly examine the potential costs and benefits associated with establishing a Federal uniform residential building code . The report must specifically evaluate whether such a standardized code could lead to a reduction in the time required for local governments to approve new construction projects. Additionally, it will assess the potential for the code to decrease the overall cost of residential construction throughout the United States and determine if it could enhance the quality and increase the availability of affordable residential housing nationwide.