NAAHL, Partners Urge Investment into Starter Homes Through the Neighborhood Homes Investment Act

On July 7, NAAHL and a broad set of housing and community development groups sent a letter to Speaker Mike Johnson (R-LA) and House Ways and Means Committee Chair Jason Smith (R-MO), urging the Neighborhood Homes Investment Act’s inclusion if Congress advances a tax package focused on affordability.

The Neighborhood Homes Investment Act, led by Representatives Mike Kelly (R-PA) and John Larson (D-CT) and Senators Todd Young (R-IN) and Mark Warner (D-VA), is the most widely supported affordable homeownership supply bill in Congress. It is a tax-based affordability measure that addresses homeownership needs of low- and moderate-income families. The Neighborhood Homes Investment Act will create a federal tax credit that will expand the supply of starter homes by helping finance the building and rehabilitation of affordable owner-occupied homes in urban, suburban, rural, and Tribal communities.

The letter specifies that the Congressional leads of the legislation have, in anticipation of the next tax vehicle, “prepared a narrower, four-year version of the Neighborhood Homes Investment Act to deliver results in a more cost-contained framework, while preserving the program’s core structure and effectiveness.”

NAAHL is a co-chair of the Neighborhood Homes Coalition, a national advocacy group supporting enactment of the Neighborhood Homes Investment Act.