Senate Bill 657
118th Congress(2023-2024)
Neighborhood Homes Investment Act
Introduced
Introduced in Senate on Mar 6, 2023
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
657
Congress
118
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Neighborhood Homes Investment Act
This bill allows a business-related tax credit for certain development costs for the acquisition, rehabilitation, or remediation of qualified real property (i.e., real property affixed on a permanent foundation and comprised of four or fewer residential units, a condominium unit, or a house or apartment owned by a cooperative housing corporation).
The bill also provides for the exclusion from gross income, for income tax purposes, of the value of any subsidy provided to a taxpayer by any state energy office for purposes of improvements made to a qualified residence.
March 6, 2023
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04/16/2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
03/12/2024
Committee on Banking, Housing, and Urban Affairs. Hearings held.
03/06/2023
Read twice and referred to the Committee on Finance.
03/06/2023
Introduced in Senate
Public Record
Record Updated
May 16, 2024 6:11:41 AM