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S. 657 118th Congress Senate

Neighborhood Homes Investment Act

Official title: A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for neighborhood revitalization, and for other purposes.

Introduced: April 18, 2023 See on congress.gov
Taxation Housing finance and home ownershipIncome tax creditsIncome tax exclusionReal estate business
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Residential rehabilitation and home repairState and local taxation
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 118-555.
Mar 12, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.
Mar 6, 2023
Read twice and referred to the Committee on Finance.
Mar 6, 2023
Introduced in Senate
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 Latest action April 16, 2024

Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 118-555.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 3
  • HR 3940 Identical bill Neighborhood Homes Investment Act
  • S 680 DASH Act
  • HR 10009 Revitalizing America’s Housing Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Lobbying activity 11

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

  • SMITHBUCKLIN CORPORATION
    for NATIONAL ASSOCIATION OF LOCAL HOUSING FINANCE AGENCIES · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • FEDERAL HALL POLICY ADVISORS, LLC
    for BIPARTISAN POLICY CENTER ACTION · District of Columbia · 2nd Quarter 2025 (Apr 1 - June 30)
  • SMITHBUCKLIN CORPORATION
    for NATIONAL ASSOCIATION OF LOCAL HOUSING FINANCE AGENCIES · District of Columbia · 2nd Quarter 2026 (Apr 1 - June 30)
  • SMITHBUCKLIN CORPORATION
    for NATIONAL ASSOCIATION OF LOCAL HOUSING FINANCE AGENCIES · District of Columbia · 1st Quarter 2026 (Jan 1 - Mar 31)
  • SMITHBUCKLIN CORPORATION
    for NATIONAL ASSOCIATION OF LOCAL HOUSING FINANCE AGENCIES · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)
  • SMITHBUCKLIN CORPORATION
    for NATIONAL ASSOCIATION OF LOCAL HOUSING FINANCE AGENCIES · District of Columbia · 3rd Quarter 2025 (July 1 - Sep 30)

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 11 filings →
 Cosponsors 15
All 15 Democratic 7 Republican 8
D
Baldwin, Tammy
Wisconsin · Nov 12, 2024
 R
Scott, Tim
South Carolina · Nov 12, 2024
 D
Kaine, Tim
Virginia · May 15, 2024
 R
Marshall, Roger
Kansas · May 15, 2024
 D
Durbin, Richard J.
Illinois · May 9, 2024
 R
Hyde-Smith, Cindy
Mississippi · May 9, 2024
 R
Graham, Lindsey
South Carolina · Jul 27, 2023
 D
Warner, Mark R.
Virginia · Jul 27, 2023
 R
Cramer, Kevin
North Dakota · Apr 25, 2023
 R
Capito, Shelley Moore
West Virginia · Apr 18, 2023
 D
Coons, Christopher A.
Delaware · Apr 18, 2023
 D
Cortez Masto, Catherine
Nevada · Apr 18, 2023
 R
Moran, Jerry
Kansas · Mar 6, 2023
 D
Wyden, Ron
Oregon · Mar 6, 2023
 R
Young, Todd
Indiana · Mar 6, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 657: Neighborhood Homes Investment Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-657/
MLA
"S. 657: Neighborhood Homes Investment Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-657/.
Bluebook (legal)
S. 657, 118th Cong. (2026), https://openamerica.io/bill/118-S-657/.
Markdown link
[S. 657: Neighborhood Homes Investment Act](https://openamerica.io/bill/118-S-657/)
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