By Monica Hogan, Inside Mortgage Finance
A bipartisan group of House members last week reintroduced legislation that would offer tax incentives to support the creation or substantial rehabilitation of 500,000 starter homes in under-resourced communities over the next 10 years. The sponsors of H.R. 3940, the Neighborhood Homes Investment Act, are Reps. Mike Kelly, R-PA, and Mike Higgins, D-NY. Co-sponsors include Reps. Claudia Tenney, R-NY, Dan Kildee, D-MI, Randy Feenstra, R-IA, and Dwight Evans, D-PA.