HR 3940
118th Congress
House
Taxation
Housing finance and home ownership
Income tax credits
Income tax exclusion
Real estate business
Residential rehabilitation and home repair
State and local taxation
Neighborhood Homes Investment Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 9, 2023
Referred to the House Committee on Ways and Means.
Jun 9, 2023
Introduced in House
Plain-English summary
Neighborhood Homes Investment Act
This bill allows a business-related tax credit for certain development costs for the acquisition, rehabilitation, or remediation of qualified real property (i.e., real property affixed on a permanent foundation and comprised of four or fewer residential units, a condominium unit, or a house or apartment owned by a cooperative housing corporation).
The bill also provides for the exclusion from gross income, for income tax purposes, of the value of any subsidy provided to a taxpayer by any state energy office for purposes of improvements made to a qualified residence.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1