H.R. 2854: Neighborhood Homes Investment Act
The Neighborhood Homes Investment Act is designed to improve distressed communities by promoting affordable homeownership and housing rehabilitation for low-income families. The main components of the bill include:
Tax Credit for Revitalization
The Act introduces a tax credit that incentivizes investments in areas suffering from housing shortages. This is aimed at both encouraging developers and providing support to families looking to purchase or improve homes.
Focus on Low-Income Families
The legislation underscores the importance of empowering low-income families by facilitating access to affordable housing options. This plan is intended to help these families achieve homeownership, which is often a pathway to better financial stability.
Credit Allocation and Application Process
The bill outlines specific procedures for how the tax credits will be allocated. This includes guidelines on how applicants can apply for these credits, ensuring that there is a clear and transparent process for interested parties.
Community Impact Assessments
As part of the implementation of the tax credits, community impact assessments are required. These assessments will evaluate how the investments affect the local communities, focusing on improvements in housing conditions, economic development, and overall community well-being.
Goals of the Act
- Revitalize neighborhoods facing economic challenges.
- Improve access to affordable housing for low-income families.
- Encourage sustainable community development.
- Support local economies through housing-related investments.
Overall Vision
The Neighborhood Homes Investment Act aims to create a positive feedback loop where improvements in housing lead to enhanced community environments, benefiting both residents and local businesses. By targeting investments in distressed areas, the Act seeks to tackle issues of housing inadequacy and economic stagnation.
Relevant Companies
- PHM - PulteGroup, as a major homebuilder, may be impacted as the demand for affordable housing increases.
- DHI - D.R. Horton, which specializes in residential construction, could see increased opportunities in revitalized neighborhoods.
- KBH - KB Home might experience direct effects due to potential growth in affordable housing projects.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
67 bill sponsors
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TrackMike Kelly
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TrackJoyce Beatty
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TrackAmi Bera
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TrackSanford D. Bishop, Jr.
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TrackJulia Brownley
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TrackVern Buchanan
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TrackNikki Budzinski
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TrackMike Carey
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TrackJudy Chu
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TrackJ. Luis Correa
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TrackAngie Craig
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TrackSharice Davids
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TrackDanny K. Davis
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TrackDonald G. Davis
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TrackDiana DeGette
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TrackSuzan K. DelBene
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TrackDebbie Dingell
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TrackDwight Evans
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TrackMike Ezell
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TrackRandy Feenstra
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TrackBrad Finstad
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TrackBrian K. Fitzpatrick
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TrackMichael Guest
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TrackJosh Harder
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TrackJahana Hayes
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TrackAshley Hinson
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TrackErin Houchin
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TrackChrissy Houlahan
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TrackTrent Kelly
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TrackRobin L. Kelly
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TrackRo Khanna
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TrackRaja Krishnamoorthi
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TrackDavid Kustoff
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TrackDarin LaHood
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TrackGreg Landsman
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TrackJohn B. Larson
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TrackMichael Lawler
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TrackNicole Malliotakis
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TrackTracey Mann
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TrackLucy McBath
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TrackBetty McCollum
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TrackJohn McGuire
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TrackGregory W. Meeks
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TrackMark Messmer
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TrackDaniel Meuser
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TrackCarol D. Miller
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TrackNathaniel Moran
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TrackFrank J. Mrvan
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TrackJoe Neguse
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TrackZachary Nunn
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TrackIlhan Omar
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TrackJimmy Panetta
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TrackScott H. Peters
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TrackBrittany Pettersen
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TrackMichael A. Rulli
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TrackJohn H. Rutherford
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TrackJanice D. Schakowsky
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TrackTerri A. Sewell
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TrackLloyd Smucker
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TrackEric Sorensen
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TrackDarren Soto
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TrackMarilyn Strickland
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TrackThomas R. Suozzi
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TrackClaudia Tenney
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TrackPaul Tonko
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TrackGabe Vasquez
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TrackRyan K. Zinke
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Actions
2 actions
| Date | Action |
|---|---|
| Apr. 10, 2025 | Introduced in House |
| Apr. 10, 2025 | Referred to the House Committee on Ways and Means. |
Corporate Lobbying
1 company lobbying