US Congress Senate Bill 4073 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 25 2020 - 25% progression, died in committee
Action: 2020-06-25 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

Neighborhood Homes Investment Act

Sen. Benjamin Cardin [D-MD]	Sen. Rob Portman [R-OH]	Sen. Christopher Coons [D-DE]	Sen. Todd Young [R-IN]
Sen. Sherrod Brown [D-OH]	Sen. Tim Scott [R-SC]	Sen. Jerry Moran [R-KS]

Date	Chamber	Action
2020-06-25	Senate	Read twice and referred to the Committee on Finance.

HB2 (Related) 2020-07-20 - Received in the Senate.
HB3316 (Related) 2019-06-18 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/4073/all-info
Text	https://www.congress.gov/116/bills/s4073/BILLS-116s4073is.pdf