; and (3) by inserting after paragraph (37) the following new paragraph: (38) to the extent provided in section 42A(i)(8), and . (e) Treatment under base erosion minimum tax Section 59A(b)(4) of he Internal Revenue Code of 1986 is amended by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively, and by inserting after subparagraphs (A) the following new subparagraph: (B) the middle-income housing credit determined under section 42A(a), . (f) Conforming amendments (1) Section 45L(e) of the Internal Revenue Code of 1986 is amended by inserting or 42A after 42 . (2) Section 50(c)(3)(C) of such Code is amended by inserting or 42A after 42 . (3) Section 55(c)(1) of such Code is amended by inserting 42A(j), before 45(e)(11)(C) . (4) Subsections (i)(3)(C), (i)(6)(B)(i), and (k)(1) of section 469 of such Code are each amended by inserting or 42A after 42 . (5) The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 42 the following new item: Sec. 42A. Middle-income housing credit. . (g) Effective date The amendments made by this section shall apply to buildings placed in service after December 31, 2023, in taxable years ending after such date. 214. Neighborhood homes credit (a) Findings and purpose (1) Findings Congress finds the following: (A) Experts have determined that it could take nearly a decade to address the housing shortage in the United States, in large part due to increasing housing prices and decreased housing inventory. (B) The housing supply shortage disproportionately impacts low-income and distressed communities. (C) Homeownership is a primary source of household wealth and neighborhood stability. Many distressed communities have low rates of homeownership and lack quality, affordable starter homes. (D) Housing revitalization in distressed communities is prevented by the value gap, the difference between the price to rehabilitate a home and the sale value of the home. (E) The