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
41 bill sponsors
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TrackMike Kelly
Sponsor
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TrackSanford D. Bishop, Jr.
Co-Sponsor
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TrackJulia Brownley
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TrackVern Buchanan
Co-Sponsor
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TrackNikki Budzinski
Co-Sponsor
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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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TrackDonald G. Davis
Co-Sponsor
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TrackDanny K. Davis
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TrackDiana DeGette
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TrackDebbie Dingell
Co-Sponsor
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TrackRandy Feenstra
Co-Sponsor
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TrackChrissy Houlahan
Co-Sponsor
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TrackRobin L. Kelly
Co-Sponsor
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TrackDavid Kustoff
Co-Sponsor
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TrackDarin LaHood
Co-Sponsor
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TrackJohn B. Larson
Co-Sponsor
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TrackNicole Malliotakis
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TrackTracey Mann
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TrackBetty McCollum
Co-Sponsor
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TrackGregory W. Meeks
Co-Sponsor
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TrackDaniel Meuser
Co-Sponsor
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TrackCarol D. Miller
Co-Sponsor
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TrackNathaniel Moran
Co-Sponsor
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TrackFrank J. Mrvan
Co-Sponsor
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TrackZachary Nunn
Co-Sponsor
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TrackIlhan Omar
Co-Sponsor
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TrackJimmy Panetta
Co-Sponsor
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TrackScott H. Peters
Co-Sponsor
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TrackBrittany Pettersen
Co-Sponsor
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TrackMichael A. Rulli
Co-Sponsor
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TrackJanice D. Schakowsky
Co-Sponsor
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TrackTerri A. Sewell
Co-Sponsor
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TrackLloyd Smucker
Co-Sponsor
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TrackEric Sorensen
Co-Sponsor
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TrackClaudia Tenney
Co-Sponsor
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TrackPaul Tonko
Co-Sponsor
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TrackGabe Vasquez
Co-Sponsor
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TrackRyan K. Zinke
Co-Sponsor
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
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