H.R.4210 - Restore our Neighborhoods Act of 2012112th Congress (2011-2012)
Summary: H.R.4210 — 112th Congress (2011-2012)
Introduced in House (03/19/2012)
Restore our Neighborhoods Act of 2012 - 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 that have greater numbers of vacant or foreclosed properties and higher unemployment rates (qualified states).