Neighborhood Homes Tax Credit
S. 657, Neighborhood Homes Investment Act
March 6, 2023
S. Con. Res. 14, Build Back Better Act
Aug. 9, 2021
S. 98, Neighborhood Homes Investment Act
Jan. 28, 2021
S. 4073/H.3316, Neighborhood Homes Investment Act
June 25, 2020
H.R. 2, The Moving Forward Act
June 22, 2020
‘Dear Colleague’ letter in support of a modified version of the Community Development Homeownership Tax Credit Act
October 26, 2005, Sens. John Ensign, R-Nev., John Kerry, D-Mass., Rick Santorum, R-Pa., and Debbie Stabenow, D-Mich.
‘Dear Colleague’ letter in support of S. 859, the Community Development Homeownership Tax Credit Act
April 20, 2005
H.R. 1549 Renewing the Dream Tax Credit Act
April 12, 2005
S. 811, American Dream Downpayment Act
April 8, 2003
H.R. 1276, American Dream Downpayment Act
March 13, 2003
H.R. 839 Renewing the Dream Tax Credit Act
Feb. 13, 2003
S. 3126, Community Development Homeownership Tax Credit Act
October 16, 2002
H.R. 5052, Renewing the Dream Tax Credit Act
June 27, 2002
H.R. 4446, American Dream Downpayment Act
April 17, 2002
Ohio H.B. 33, Establishes operating appropriations for fiscal years 2024-2025 (Section 175.17)
Introduced April 27, 2023
Iowa SF 373, Act creating a homeownership development tax credit
Introduced Feb. 16, 2021
Neighborhood Homes Investment Act FAQs 2021
National Council of State Housing Agencies
Towards a Targeted Homeownership Tax Credit
By J. Michael Collins, Eric S. Belsky, and Nicolas P. Retsinas
Brookings Institution’s Center on Urban and Metropolitan Policy
Provide a Neighborhood Homes Credit (FY 2024 Greenbook)
Department of the Treasury, April 2023
General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposal (FY 2022 Greenbook)
Department of the Treasury, May 2021
Who We Are
The Neighborhood Homes Tax Credit (NHTC) Working Group was founded by Novogradac in 2021 following the introduction of the Neighborhood Homes Investment Act; the NHTC was also included in President Joe Biden’s American Jobs Plan, the administrations infrastructure proposal, and the FY 2022 budget request. The NHTC Working Group was created to identify and address technical and administrative issues that arise under the federal Neighborhood Homes Tax Credit. Its members primarily include investors, syndicators, lenders, community development financial institutions (CDFIs), for-profit and nonprofit developers, consultants, law firms and other community development professionals who work together to suggest consensus solutions to technical NHTC issues and provide recommendations to make the tax credit more efficient in delivering benefits to low- and moderate-income homeowners in distressed communities.
What We Do
Established to provide a platform for community development industry participants who wished to be on the leading edge, the NHTC Working Group encourages and facilitates the collaboration of industry stakeholders in their efforts to use the incentive and resolve technical and administrative issues. Each month members of the group participate in a conference call to discuss issues, answers to frequently asked questions, practical applications for using the incentive in various business models, recommended practices for compliance, and issues needing further guidance and–based on those discussions–provide comments and suggestions that are submitted in writing to the U.S. Department of the Treasury and Internal Revenue Service, members of Congress and other federal and state agencies.
Also, members have the opportunity participate in various subgroup calls which address the needs of members in a more focused way by concentrating shared attention on particular applications of the incentive and specific industry sectors.
Benefits of Membership
Membership in the NHTC Working Group provides:
- Access to a platform where members can collaborate on similar opportunities and issues to better understand how they can use the tax credit to finance single-family homes in distressed communities.
- Access to Novogradac legislative and economic analysis of key issues in the Neighborhood Homes Tax Credit.
- The ability to keep abreast of emerging issues and provide input for shaping proposed rulemaking so that the rules and markets work well together.
- The ability to cost share in resolving similar issues more efficiently as a group rather than having to address them individually.
- The chance to participate directly but have ideas and suggestions included anonymously in letters submitted to governmental agencies.
- Access to Novogradac’s congressional update on issues as they happen.
- Access to conceptual models and analysis to assist in the understanding of the value of the tax credit.
The NHTC Working Group’s priority issues include:
- Discovering the most effective, impactful and efficient use of the tax credit with various business models.
- Review legislative language and identify areas that may need clarified.
- Provide comments to state housing agencies regarding NHTC policies and best practices.
- Making requests for guidance and providing recommendations around statutory requirements, regulations and other guidance.
- Discovering how the Neighborhood Homes TC Credit can be combined with various community development tax and other incentives to achieve the maximum benefit for eligible households and distressed communities.
For information regarding the group and how to become a member, complete this form or contact Dirk Wallace at (330) 365-5364 or [email protected]. Membership fees cover the time incurred by Novogradac professionals to research, collaborate and prepare written and verbal communications to the respective agencies. Each month, Novogradac updates the group on the status of each issue and the necessary actions to address them.
The NHTC Working Group does consider input from non-members when drafting of comment letters, recommended practices and other content. To submit input on an NHTC topic, contact Dirk Wallace at (330) 365-5364 or [email protected].
- Tax Credit Tuesday Podcast
- Notes from Novogradac
- Journal of Tax Credits
- Press Releases
- Related Topics
- GAAP Accounting for Tax Credits
- Federal Infrastructure Tax Credit
- Middle-Income Housing Tax Credit
- Neighborhood Homes Tax Credit
- Tax Extenders
- Tax Expenditures
- Tax Credit Accounting
- Tax Credits and the Federal Budget
- Tax Patents
- Volcker Rule
- Economic Substance
- Small Business Jobs Tax Act
- Tax Technical Corrections
- Homeownership Tax Credit
- American Jobs Tax Act
- Financial Crisis Responsibility Fee