Neighborhood Homes Investment Act (NHIA)
NAAHL supports the passage of the Neighborhood Homes Investment Act (NHIA). The legislation, S. 98 and H.R. 2143, would revitalize distressed urban, suburban and rural neighborhoods with federal income tax credits, mobilizing private investment to build and rehabilitate 500,000 homes for low- and moderate-income homeowners over the next decade.
Every state has neighborhoods where the homes are in poor condition and the property values are too low to support new construction or substantial renovation. The lack of move-in ready homes makes it difficult to attract or retain homebuyers, causing property values to decline. The NHIA would break this downward spiral by creating a federal tax credit that covers the gap between the cost of building or renovating homes and the price at which they can be sold, thus making renovation and new home construction possible. The NHIA would also help existing homeowners in these neighborhoods to rehabilitate their homes.
Summary of Neighborhood Homes Investment Act
Neighborhood Homes Investment Act Proposal
Neighborhood Homes Investment Act Coalition
H.R.2143 – Neighborhood Homes Investment Act – Cosponsors List
S.98 – Neighborhood Homes Investment Act – Cosponsors List
Articles
- When It Comes to Inflation, Our Focus Should Be On the Cost of Housing [March 2022]
- Creating NHTC, Expanding LIHTC Could Finance Nearly 1 Million Affordable Homes, Help Address Inflation and Promote Racial Equity [February 2022]
- Pass The Neighborhood Homes Investment Act [November 2021]
- More than $12 Billion in LIHTC Provisions and Nearly $6 Billion for Neighborhood Homes Tax Credits in Nov. 3 Draft of the Build Back Better Reconciliation Bill Would Finance Close to 1 Million Affordable Homes Over 2022-31 [November 2021]
- House Adds Neighborhood Homes, LIHTC to Build Back Better Bill [November 2021]
- Closing the Homeownership Gap Will Require Rooting Systemic Racism Out of Mortgage Underwriting [October 2021]
- Congress Nears Deal on Key Housing Bills [October 2021]
- In Addition to LIHTC and MIHTC Proposals, DASH Act Includes Bipartisan Neighborhood Homes Tax Credit that Could Finance the Construction, Rehabilitation of a Half Million Owner-Occupied Homes [September 2021]
- How Biden’s Neighborhood Homes Proposal Impacts Real Estate Investors [July 2021]
- Invest in America’s Infrastructure by Expanding Access to Affordable Housing [July 2021]
- Biden’s $213 Billion Pitch to Build, Retrofit Homes May Be Ticket to Homeownership [June 2021]
- U.S. Housing Market Needs 5.5 Million More Units, Says New Report [June 2021]
- Are Homes Infrastructure? Biden’s Proposal Says Better Housing Policy Will Improve Access, Affordability [June 2021]
- Biden Tax Credit to Rehab Homes Is Finally Unveiled [June 2021]
- Biden To Announce New Steps to Close Racial Wealth Gap While Marking 100th Anniversary of Tulsa Race Massacre [June 2021]
- The American Jobs Plan Will Produce, Preserve, and Retrofit More Than 2 Million Affordable Housing Units and Create Good Paying Jobs [May 2021]
- Biden’s Neighborhood Revitalization Plan Looks to Detroit for Inspiration [May 2021]
- Written Testimony of HUD Secretary Marcia L. Fudge Senate Banking Committee Hearing on The American Jobs Plan [May 2021]
- How President Biden’s Infrastructure Plan Could be Used for Fixing up San Diego Housing [April 2021]
- Biden Rehab Credit Proposal Could Draw Bipartisan Support [April 2021]
- [Editorial] Affordable Housing Shortage Needs Work at Local, State and Federal Level [April 2021]
- Biden Includes Neighborhood Homes Tax Credit in $2T Infrastructure Plan [March 2021]
- Sherrod Brown Wants To Take On The Racial Homeownership Gap [February 2021]
- A Bold Vision for a Legislative Pathway Toward Health and Economic Equity [January 2021]
- Housing Advocates Laud Cardin-Portman Neighborhood Homes Investment Act [January 2021]
- Senators Introduce ‘Neighborhood Homes Investment Act’ to Expand Homeownership Opportunities and Revitalize Communities [January 2021]
- Cardin, Portman Reintroduce Tax Credit to Encourage Revitalization of Distressed Homes [January 2021]
- Portman’s Exit Signals Uncertainty for Senate GOP [January 2021]
- Biden’s Narrow Path to an Infrastructure Dream [January 2021]
- Portman’s Exit Signals Uncertainty for Senate GOP [January 2021]
- Policies That Could Combat the Affordable Housing Crisis [September 2020]
- Structured Finance Association Announces Support for Neighborhood Homes Investment Act [August 2020]
- Higgins Leads Push to Approve Neighborhood Homes Investment Act [July 2020]
- Senators Introduce Tax Credit to Revitalize Distressed Homes [July 2020]
- Neighborhood Homes Investment Act Would Create Tax Credit for Revitalizing Single-Family Homes in Low-Income Neighborhoods [June 2020]
- Senators Introduce ‘Neighborhood Homes Investment Act’ to Expand Homeownership Opportunities and Revitalize Communities [June 2020]
- Naturally Occurring Affordable Housing Is Hiding in Plain Sight [July 2019]
- Neighborhood Homes Investment Act Introduced; 500,000 Homes Would Rebuild Communities [June 2019]
- Bill Seeks to Create ‘Neighborhood Homes’ Tax Credit [June 2019]
