Neighborhood Homes Investment Act

Summary

Neighborhood Homes Investment Act This bill establishes a new business-related tax credit to finance home building and rehabilitation in neighborhoods that meet certain eligibility criteria relating to poverty rates, income, and home values. The credit is limited to 35% of the lesser of the qualified development cost (i.e., the cost of construction, substantial rehabilitation, demolition, and environmental remediation of residential properties) or 80% of the national median sale price for new homes. The credit applies to single family homes containing four or fewer residential units, condominiums, or houses or apartments owned by cooperative housing corporations.

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Timeline

1. 25 June 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 25 June 2020

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 25 June 2020 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 June 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 June 2020

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 25 June 2020

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Cardin, Benjamin L. [D-MD] · D · Sponsor
• Sen. Portman, Rob [R-OH] · R · Sponsor
• Sen. Coons, Christopher A. [D-DE] · D · Sponsor
• Sen. Young, Todd [R-IN] · R · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Moving Forward Act
• related to → Neighborhood Homes Investment Act
• related to → Neighborhood Homes Investment Act