Neighborhood Homes Investment Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2854 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2854 To amend the Internal Revenue Code of 1986 to establish a tax credit for neighborhood revitalization, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 10, 2025 Mr. Kelly of Pennsylvania (for himself, Mr. Larson of Connecticut, Mr. Carey, Ms. Sewell, Mr. Buchanan, Mr. Davis of Illinois, Mrs. Miller of West Virginia, Mr. Panetta, Mr. Feenstra, Mr. Kustoff, Ms. Malliotakis, and Mr. Moran) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish a tax credit for neighborhood revitalization, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Neighborhood Homes Investment Act''. SEC. 2. FINDINGS AND SENSE OF CONGRESS. (a) Findings.--Congress finds the following: (1) Experts have determined that it could take nearly a decade to address the housing shortage in the United States, in large part due to increasing housing prices and insufficient supply. (2) The housing supply shortage disproportionately impacts low-income and distressed communities. (3) Homeownership is a primary source of household wealth and neighborhood stability. Many distressed communities have low rates of homeownership and lack quality, affordable starter homes, while many individuals who own their homes have difficulty securing financing for home repairs and improvements. (4) Housing construction in distressed communities is prevented by the value gap, the difference between the cost to develop a home and the sale price of the home. (5) The Neighborhood Homes Inv