US HB3316 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Democrat 20-13)
Status: Introduced on June 18 2019 - 25% progression, died in committee
Action: 2019-06-18 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 18 2019 - 25% progression, died in committee
Action: 2019-06-18 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes a new business-related tax credit to finance home building and rehabilitation in neighborhoods that meet certain eligibility criteria relating to poverty rates, income, and home values. The credit is limited to 35% of the lesser of the qualified development cost (i.e., the cost of construction, substantial rehabilitation, demolition, and environmental remediation of residential properties) or 80% of the national median sale price for new homes. The credit applies to single family homes containing four or fewer residential units, condominiums, or houses or apartments owned by cooperative housing corporations.
Title
Neighborhood Homes Investment Act
Sponsors
Rep. Brian Higgins [D-NY] | Rep. Mike Kelly [R-PA] | Rep. Marcy Kaptur [D-OH] | Rep. Daniel Kildee [D-MI] |
Rep. Darin LaHood [R-IL] | Rep. Fred Upton [R-MI] | Rep. Antonio Delgado [D-NY] | Rep. Jackie Walorski [R-IN] |
Rep. John Larson [D-CT] | Rep. Terri Sewell [D-AL] | Rep. Guy Reschenthaler [R-PA] | Rep. Cheri Bustos [D-IL] |
Rep. Brian Fitzpatrick [R-PA] | Rep. Michael Doyle [D-PA] | Rep. Ruben Gallego [D-AZ] | Rep. Don Bacon [R-NE] |
Rep. Bill Pascrell [D-NJ] | Rep. Steve Stivers [R-OH] | Rep. Lloyd Smucker [R-PA] | Rep. Andre Carson [D-IN] |
Rep. Denver Riggleman [R-VA] | Rep. Pete Stauber [R-MN] | Rep. Dwight Evans [D-PA] | Rep. Joyce Beatty [D-OH] |
Rep. Stephanie Murphy [D-FL] | Rep. Tim Ryan [D-OH] | Rep. Betty McCollum [D-MN] | Rep. Anthony Brown [D-MD] |
Rep. Anthony Gonzalez [R-OH] | Rep. Drew Ferguson [R-GA] | Rep. Joe Courtney [D-CT] | Rep. Emanuel Cleaver [D-MO] |
Rep. Rosa DeLauro [D-CT] |
History
Date | Chamber | Action |
---|---|---|
2019-06-18 | House | Referred to the House Committee on Ways and Means. |
2019-06-18 | House | Introduced in House |
Same As/Similar To
SB4073 (Related) 2020-06-25 - Read twice and referred to the Committee on Finance.
Subjects
Building construction
Business investment and capital
Economic development
Economic performance and conditions
Government information and archives
Housing and community development funding
Housing finance and home ownership
Housing supply and affordability
Income tax credits
Inflation and prices
Residential rehabilitation and home repair
Taxation
Business investment and capital
Economic development
Economic performance and conditions
Government information and archives
Housing and community development funding
Housing finance and home ownership
Housing supply and affordability
Income tax credits
Inflation and prices
Residential rehabilitation and home repair
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/3316/all-info |
Text | https://www.congress.gov/116/bills/hr3316/BILLS-116hr3316ih.pdf |