Neighborhood Homes Investment Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2854 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 2854
To amend the Internal Revenue Code of 1986 to establish a tax credit
for neighborhood revitalization, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
April 10, 2025
Mr. Kelly of Pennsylvania (for himself, Mr. Larson of Connecticut, Mr.
Carey, Ms. Sewell, Mr. Buchanan, Mr. Davis of Illinois, Mrs. Miller of
West Virginia, Mr. Panetta, Mr. Feenstra, Mr. Kustoff, Ms. Malliotakis,
and Mr. Moran) introduced the following bill; which was referred to the
Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to establish a tax credit
for neighborhood revitalization, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

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This Act may be cited as the ``Neighborhood Homes Investment Act''.

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(a) Findings.--Congress finds the following:
(1) Experts have determined that it could take nearly a
decade to address the housing shortage in the United States, in
large part due to increasing housing prices and insufficient
supply.
(2) The housing supply shortage disproportionately impacts
low-income and distressed communities.
(3) Homeownership is a primary source of household wealth
and neighborhood stability. Many distressed communities have
low rates of homeownership and lack quality, affordable starter
homes, while many individuals who own their homes have
difficulty securing financing for home repairs and
improvements.
(4) Housing construction in distressed communities is
prevented by the value gap, the difference between the cost to
develop a home and the sale price of the home.
(5) The Neighborhood Homes Investment Act can close these
financing gaps to increase housing development and
rehabilitation in distressed communities.
(b) Sense of Congress.--It is the sense of Congress that the
neighborhood homes credit (as added under section 3 of this Act) should
be an activity administered in a manner which--
(1) revitalizes distressed communities in rural and urban
geographies;
(2) minimizes application burdens on small businesses
applying for such credit; and
(3) is consistent with the Fair Housing Act of 1968 (42
U.S.C. 3601 et seq.).

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Neighborhood Homes Investment Act — HR. 2854

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