The Neighborhood Homes Coalition, Co-Chaired by NAAHL, Applauds the Reintroduction of the Bipartisan Neighborhood Homes Investment Act

The Neighborhood Homes Coalition, Co-Chaired by NAAHL, Applauds the Reintroduction of the Bipartisan Neighborhood Homes Investment Act

Kelly and Larson reintroduce bipartisan homeownership supply bill, legislation that would create a tax incentive to build and preserve more than 500,000 affordable homes over ten years in under-resourced communities.

Washington, D.C. (April 10, 2025) — The Neighborhood Homes Coalition applauds the reintroduction of the bipartisan Neighborhood Homes Investment Act in the House of Representatives during the 119th Congress. The bill is led by Representative Mike Kelly (R-PA-16), and Representative John Larson (D-CT-1). This widely supported legislation would create a new tax incentive to build and preserve more than 500,000 affordable, single-family homes for homeownership over ten years in under-resourced communities.

Right now, hardworking Americans are struggling to find an affordable home to own. Too many streets across our nation are lined with vacant lots or dilapidated housing in need of substantial repairs, which in some cases cost more than the value of the home itself. In other communities, the only homes being built are too large and expensive for most families to afford. This is a challenge for many communities, including rural communities struggling to attract job-creating industries due to the lack of housing availability and affordability.

Working families ready for homeownership deserve access to more affordable homes, but none more so than communities that have historically faced low home values – impacting both aspiring and current homeowners in older homes that need critical repairs. The key to generational wealth begins with homeownership, and it’s long past time for communities that have been left out to finally access this cornerstone of the American Dream.

This bipartisan Neighborhood Homes Investment Act gained strong backing in the 118th Congress, with 111 House cosponsors, including 17 members of the House Ways & Means Committee. The Senate version of the bill had 16 cosponsors last Congress, and a companion Senate bill is anticipated to be reintroduced later this month by Senators Todd Young (R-IN) and Mark Warner (D-VA).

“The Neighborhood Homes Investment Act will allow homeowners and developers to not only affordably restore beautiful homes, but also to build and create more affordable housing in communities that need it the most. For the families whose dreams of homeownership feel unattainable, this bill could make those dreams closer to reality,” Rep. Mike Kelly said. “I am proud to join my colleagues in leading the bipartisan Neighborhood Homes Investment Act, which will create stronger homes, stronger families, and stronger neighborhoods.”

“I am proud to join my colleague, Rep. Mike Kelly, to introduce a bipartisan solution to bring down costs and increase the supply of affordable housing,” said Rep. John Larson. “The Neighborhood Homes Investment Act will tackle our housing crisis by incentivizing the construction of new homes and the revitalization of vacant homes in need of repair. We will continue to work together to spur the development of good, quality housing in the Northeast and across the country, and make homeownership a reality for more of our nation’s families.”

Joining Representatives Kelly and Larson are Reps. Randy Feenstra (R-IA), Vern Buchanan (R-FL), Carol Miller (R-WV), Mike Carey (R-OH), David Kustoff (R-TN), Nicole Malliotakis (R-NY), Nathaniel Moran (R-TX), Terri Sewell (D-AL), Danny Davis (D-IL), and Jimmy Panetta (D-CA) as original cosponsors.

The Neighborhood Homes Coalition applauds Representatives Kelly and Larson and each of the bill’s co-sponsors for their championing of the bipartisan legislation. The Neighborhood Homes Coalition urges Congress to enact the Neighborhood Homes Investment Act, the widely popular, bipartisan affordable homeownership supply solution, in a 2025 tax package.

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About The Neighborhood Homes Coalition

The Neighborhood Homes Coalition is a national advocacy group of 47 national organizations, including housing and community development nonprofits, financial institutions, and related trade associations – all supporting enactment of the Neighborhood Homes Investment Act. Learn more about the Neighborhood Homes Coalition at www.neighborhood homes investment act.org. 

The National Association of Affordable Housing Lenders (NAAHL), the National Community Stabilization Trust (NCST), and the Local Initiatives Support Corporation (LISC) co-chair the Neighborhood Homes Coalition. 

About National Association of Affordable Housing Lenders

Founded in 1990, the National Association of Affordable Housing Lenders (NAAHL) is the national alliance of banks, CDFIs, and other lenders and investors in affordable housing and community development.

For more information, visit www.naahl.org.