Neighborhood Reinvestment and Revitalization Act of 2022

Hozzl · 2022-12-30T03:49:00Z

Explore the details of House Bill 6516 Neighborhood Reinvestment and Revitalization Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Housing and Community Development. Stay informed on legislative developments.

12/30/2022, 3:49 AM

Summary of Bill HR 6516

Bill 117 HR 6516, also known as the Neighborhood Reinvestment and Revitalization Act of 2022, aims to address the issue of declining neighborhoods and communities across the United States. The bill focuses on providing funding and resources to support the revitalization of these areas, with the goal of improving quality of life for residents and boosting economic development.

Key provisions of the bill include allocating funds for affordable housing initiatives, infrastructure improvements, and community development projects. This includes grants for the construction and renovation of affordable housing units, as well as funding for transportation and public infrastructure projects in underserved communities.

Additionally, the bill includes measures to support small businesses in these neighborhoods, such as providing access to capital and technical assistance programs. This is intended to stimulate economic growth and create job opportunities for residents. Overall, the Neighborhood Reinvestment and Revitalization Act of 2022 seeks to address the challenges facing struggling communities and promote sustainable development. By investing in these areas, the bill aims to create vibrant, thriving neighborhoods that benefit both residents and the broader economy.

Congressional Summary of HR 6516

Neighborhood Reinvestment and Revitalization Act of 2022

This bill requires the Neighborhood Reinvestment Corporation to issue competitive grants to its charter members to support neighborhood revitalization activities.

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Current Status of Bill HR 6516

Bill HR 6516 is currently in the status of Bill Introduced since January 28, 2022. Bill HR 6516 was introduced during Congress 117 and was introduced to the House on January 28, 2022. Bill HR 6516's most recent activity was Referred to the House Committee on Financial Services. as of January 28, 2022

Bipartisan Support of Bill HR 6516

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6516

Primary Policy Focus

Housing and Community Development

Alternate Title(s) of Bill HR 6516

Neighborhood Reinvestment and Revitalization Act of 2022Neighborhood Reinvestment and Revitalization Act of 2022To provide for the Neighborhood Reinvestment Corporation to make grants to carry out neighborhood revitalization activities, and for other purposes.

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Comments

Sponsors and Cosponsors of HR 6516

Cheri Bustos

Illinois(Democrat)

John Katko

New York(Republican)

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