S 657 118th Congress Senate 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

Introduced: March 6, 2023 See on congress.gov

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

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.

What's happening now 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.

Committees of jurisdiction 3