To amend the Internal Revenue Code of 1986 to establish a tax credit for neighborhood revitalization, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates findings and sense of Congress Congress finds the following: Experts have determined that it could take nearly a decade to address the housing shortage in the United States, in large part due to increasing, creates neighborhood homes credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 42 the following new section: 42A.Neighborhood homes, and creates neighborhood homes credit. It relies on tax rate changes, definition changes, appropriations, and tax credits. The main policy areas are Homeowners, Finance, Housing, and Energy.
Who Benefits and How
Homeowners, tenants, or housing market participants affected by the bill could face reduced risk, Financial services firms and customers affected by the bill could face lower compliance burdens, and Environmental and public health interests affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Energy producers and energy supply-chain firms affected by the bill would take on compliance duties.
Key Provisions
- Creates findings and sense of Congress Congress finds the following: Experts have determined that it could take nearly a decade to address the housing shortage in the United States, in large part due to increasing...
- Creates neighborhood homes credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 42 the following new section: 42A.Neighborhood homes...
- Creates neighborhood homes credit.
- Requires state energy subsidies for qualified residences Gross income shall not include the value of any subsidy provided to a taxpayer (whether directly or indirectly) by any State energy office (as defined in section...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates findings and sense of Congress Congress finds the following: Experts have determined that it could take nearly a decade to address the housing shortage in the United States, in large part due to increasing, creates neighborhood homes credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 42 the following new section: 42A.Neighborhood homes, and creates neighborhood homes credit.
Key Policy Areas
Homeowners, Finance, Housing, Energy
Primary Purpose
The bill creates findings and sense of Congress Congress finds the following: Experts have determined that it could take nearly a decade to address the housing shortage in the United States, in large part due to increasing, creates neighborhood homes credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 42 the following new section: 42A.Neighborhood homes, and creates neighborhood homes credit.
Policy Domains
Whole bill
Identified Gains
- Homeowners, tenants, or housing market participants affected by the bill
- Financial services firms and customers affected by the bill
- Environmental and public health interests affected by the bill
- Energy producers and energy supply-chain firms affected by the bill
- Businesses and employers affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Energy producers and energy supply-chain firms affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Cardin (for himself, Mr. Young, Mr. Wyden, Mr. Moran, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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