Restore our Neighborhoods Act of 2013

Summary

Restore our Neighborhoods Act of 2013 - Amends the Internal Revenue Code to establish a new category of tax credit bonds to be known as qualified urban demolition bonds. Allows the issuance of $4 billion of such bonds for the purpose of demolishing vacant, abandoned, and tax delinquent properties in urban areas. Provides for the allocation of $2 billion to all states to fund such demolition projects, and an additional $2 billion for certain other states in which at least 49% of total housing units were built before 1980 and which have greater numbers of vacant or foreclosed properties and higher unemployment rates (qualified states). Authorizes the use of funds from the Hardest Hit Fund program established by title I of the Emergency Economic Stabilization Act to be used to demolish blighted structures.

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Timeline

1. 13 February 2013

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 13 February 2013

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 February 2013

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 13 February 2013 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 February 2013

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 13 February 2013

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 13 February 2013

  Open at official source

Sponsors

• David Joyce · R · Sponsor
• Marcia Fudge · D · Sponsor
• Marcy Kaptur · D · Sponsor
• TIM RYAN · D · Cosponsor
• Steve Stivers · R · Cosponsor
• Michael Turner · R · Cosponsor
• · hsba00 · Standing
• · hswm00 · Standing

Related records

• related to → To authorize States to use assistance provided under the Hardest Hit Fund program of the Department of the Treasury to demolish blighted structures, and for other purposes.
• related to ← Neighborhood Safety Act of 2013