US HB656 | 2013-2014 | 113th Congress

US Congress House Bill 656 (Prior Session Legislation)

Status

Sponsorship: Bipartisan Bill
Status: Introduced on February 13 2013 - 25% progression, died in committee
Action: 2013-02-13 - Referred to House Financial Services
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Restore our Neighborhoods Act of 2013 - Amends the Internal Revenue Code to establish a new category of tax credit bonds to be known as qualified urban demolition bonds. Allows the issuance of $4 billion of such bonds for the purpose of demolishing vacant, abandoned, and tax delinquent properties in urban areas. Provides for the allocation of $2 billion to all states to fund such demolition projects, and an additional $2 billion for certain other states in which at least 49% of total housing units were built before 1980 and which have greater numbers of vacant or foreclosed properties and higher unemployment rates (qualified states). Authorizes the use of funds from the Hardest Hit Fund program established by title I of the Emergency Economic Stabilization Act to be used to demolish blighted structures.

Title

Restore our Neighborhoods Act of 2013

History

Date	Chamber	Action
2013-02-13	House	Referred to House Financial Services
2013-02-13	House	Referred to House Ways and Means
2013-02-13	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Same As/Similar To

HB655 (Related) 2013-02-13 - Referred to the House Committee on Financial Services.
SB1122 (Related) 2013-06-10 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.