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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.
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Status:
Expired
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Additional Information
Print number: 117_S_98
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-01-28
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Real Estate Public Investments