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Tax Credits for Neighborhood Revitalization and Home Construction

This act introduces new tax credits for individuals and companies that build or renovate homes in underserved neighborhoods. The goal is to increase housing affordability and improve living conditions in these areas. This could lead to more affordable housing options for citizens or support for home renovation projects.
Key points
New tax credit for developers and homeowners for building or substantially rehabilitating properties in designated areas.
Financial support for projects that create or renovate homes for lower-income individuals.
State agencies will oversee projects, setting standards for construction quality and reasonable development costs.
A repayment requirement if a home is sold within 5 years of project completion, unless hardship applies.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_98
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-01-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Neighborhood Homes Investment Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_98.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-01-28.

What are the main provisions?

Key points include:

  • New tax credit for developers and homeowners for building or substantially rehabilitating properties in designated areas.
  • Financial support for projects that create or renovate homes for lower-income individuals.
  • State agencies will oversee projects, setting standards for construction quality and reasonable development costs.
  • A repayment requirement if a home is sold within 5 years of project completion, unless hardship applies.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cardin, Benjamin L. [D-MD].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Real Estate Public Investments