A bill for an act relating to housing in the state by establishing an Iowa housing tax credit program, establishing a neighborhood renovation grant program, and increasing first-time homebuyer tax incentives, and including effective date and applicability provisions.

HF 659 creates a state-administered Iowa Housing Tax Credit Program to support affordable housing development. It allows developers of qualifying low-income housing projects to claim tax credits against certain state taxes, with a $15 million annual cap (plus carryover from previous years). The bill also establishes neighborhood renovation grants and increases tax incentives for first-time homebuyers. These provisions directly affect housing developers, low-income residents, and homebuyers by providing financial tools to build and purchase housing in Iowa.