summary
Introduced
01/28/2021
01/28/2021
In Committee
01/28/2021
01/28/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to allow a credit against tax for neighborhood revitalization, and for other purposes.
AI Summary
This bill, the Neighborhood Homes Investment Act, would create a new tax credit to incentivize the construction and rehabilitation of homes in low-income neighborhoods. The credit, administered through state housing agencies, would cover a portion of the development costs for qualified residential projects in specified census tracts that meet certain income and housing value criteria. The credit could be claimed by developers, homeowners, or other taxpayers involved in the project, subject to various limits and requirements. The bill also includes provisions for recapturing a portion of the credit if a home is sold within 5 years of completion.
Committee Categories
Budget and Finance
Sponsors (24)
Ben Cardin (D)*,
Tammy Baldwin (D),
Michael Bennet (D),
Richard Blumenthal (D),
Sherrod Brown (D),
Shelley Moore Capito (R),
Chris Coons (D),
Catherine Cortez Masto (D),
Kevin Cramer (R),
Dianne Feinstein (D),
Lindsey Graham (R),
Amy Klobuchar (D),
Jerry Moran (R),
Chris Murphy (D),
Alex Padilla (D),
Gary Peters (D),
Rob Portman (R),
Tim Scott (R),
Jeanne Shaheen (D),
Kyrsten Sinema (I),
Debbie Stabenow (D),
Chris Van Hollen (D),
Raphael Warnock (D),
Todd Young (R),
Last Action
Read twice and referred to the Committee on Finance. (on 01/28/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/98/all-info | 01/29/2021 |
| BillText | https://www.congress.gov/117/bills/s98/BILLS-117s98is.pdf | 02/23/2021 |
| Bill | https://www.congress.gov/117/bills/s98/BILLS-117s98is.pdf.pdf | 02/23/2021 |
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