The bill S. 5196 seeks to amend the Internal Revenue Code of 1986 to create a "New Homes Tax Credit." This proposed tax credit aims to encourage investments in housing development entities that fund the construction or renovation of homes for low- and moderate-income...
Simple Explanation
The bill wants the government to give people money back if they help build or fix houses for families who do not have a lot of money. It plans to spend a lot over several years to make sure more affordable houses get made, but there are concerns it might not help everyone equally.