Summary of Legislative Changes to Neighborhood Homes Investment Act
The attached document, published by the Neighborhood Homes Coalition, summarizes a series of modifications to the Neighborhood Homes Investment Act (S. 1686/H.R. 2854) developed by the bill’s Republican and Democratic sponsors in the House and Senate. The sponsors intend to incorporate these revisions into the next version of the bill to be introduced, whether that is in the next Congress or as part of a legislative package considered later this year.
The revisions would give HFAs more flexibility in where they choose to allocate Neighborhood Homes tax credits, increase the minimum credit allocation for small states, reduce the authorization for the program to four years (2026 – 2029), allow HFAs to provide developers with more credits for certain projects to adequately cover development costs, and clarify that homes built under the program shall comply with local building codes.
